Answer:
1. C.Tax accounting
2. C. Tax accounting
3. A. Financial accounting
4. C. Tax "
5. B. Managerial "
6. A. Financial "
7. B. Managerial "
8. B. Managerial "
Explanation:
Tax accounting: accounting methods focused on tax.
Financial accounting: summary, analysis and reporting of financial transactions.
Managerial accounting: analyzing and communicating financial data to managers.
Answer:
The correct answer is a. encourage individuals to produce efficiently and undertake productive activities.
Explanation:
The right to property is the legal and immediate power that a person has to enjoy, dispose and revindicate on an object or property, without affecting the rights of others or exceeding the limits imposed by law.
The property right covers all material assets that may be appropriate, useful, of limited existence and that may be occupied.
That is, if a person owns a space of land in which a sweet potato crop grows, therefore he owns the sweet potatoes that are harvested there and can do with them what seems most convenient, that is, sell them, give them away or donate them, always within the framework that limits the law.
Answer:
Using break-even analysis in your feed and grain business can help you understand and examine the profit drivers of your business. It is a very useful tool that can help you understand how much you need to sell to cover your costs and how pricing, cost, and volume changes impact these needed sales.
Answer:
$108
Explanation:
The computation of the taxable income is shown below:
= Pre accounting income + Overweight fines (not deductible for tax purposes) + depreciation expenses - depreciation in the tax return using MACRS
= $150 + $5 + $65 - $112
= $108
We simply added the overweight fines, and depreication expenses and deduct the deprecation in the tax return to the pre accounting income so that the taxable income could arrive
Plus we ignored the applicable tax rate i.e 25%
Answer:
B) the allowance account and estimates are used.
Explanation:
When a company uses the allowance method, it will record an adjusting entry for the losses it anticipates from bad credits given to customers. The bad debts expense account is debited and the allowance for doubtful accounts (contra asset) is credited. Then as time passes and the amount of bad debts is exactly determined, another adjusting entry is necessary depending whether the estimate was correct or not, or if it was under or over estimated.
