<span>Bonds are actually a type of borrowing or loans most businesses and governments use. They represents an alternative to the common bank loans, however they enable loan of higher amounts of money, that governments need but ordinary banks are not able to provide.</span>
The accident would likely be covered under the collision insurance, which covers the policyholder's car when it collides with another car or an object (in this case it would be an object since it was a single-vehicle accident.
If you only had liability coverage, the damage would likely not be covered because liability insurance only covers the damage caused to the other person and their car, not you or your car.
This will also be added to your insurance record even though you weren't the one driving because it was your vehicle and your policy.
Answer:
The correct answer is B
Explanation:
The checks which are there on the accuracy of the statements are:
1. The corporation needed to hire or require the neutral party, which is known as the auditor in order to check the annual financial statements of the company, and also ensures that the financial statements are to prepared as per GAAP (generally accepted accounting principles). It should also offer the evidence to support the information reliability.
2. The public companies need to use a common or general set of rules and the standard format while making the reports.
3. The role of auditor is to review the financial statements and in addition Sarbanes-Oxley Act requires the CFO as well as CEO to attest personally to the accuracy of the financial statements.
Answer:
a. $222,000
b. $22,000
c. $158,000
Explanation:
a. FMV of rental property = FMV of land received + Received cash
= $200,000 + $22,000
= $222,000
b. FMV of land received $200,000
Cash boot received $22,000
Less: Basis of rental property $158,000
Realized gain $64,000
Recognized gain (Boot) $22,000
this transaction qualify for a like-kind exchange under section 1031 When no gain or loss is recognized on an exchange but on Boot received. But recognized gain will be lower of boot amount of realized gain.
c. Carryover basis of original assets = FMV of rental property - Realized gain
= $222,000 - $64,000
= $158,000
Answer: misconception
Explanation:
A misconception is simply a misunderstanding, a mistaken thought or idea. Misconception is an opinion or a view by s person which is incorrect based on the faulty thinking of the person.
For example, Jane will finish high school the following year and therefore, won't need to further her education. This is an example of misconception.
