A restaurant is a workplace for someone whose career specialty is in

The Internal Revenue Code and Treasury regulations are two major sources of federal tax law. Differentiate between the Code and

inysia [295]

Answer:

The Internal Revenue Code is federal statutory law while treasury regulations can not stand as laws on their own.

Explanation:

The Internal Revenue Code is federal statutory law passed into law by Congress and automatically becomes a law after the President has assented to it. This implies that the two arms of the government must be involved in it before before it becomes a law, otherwise it is null and void.

Treasury regulation is only meant to give interpretations and explanations to the Internal Revenue Code, law or statue, and it is not really a law by itself. The Treasury usually receives authority from the Congress to write regulations that will serve as the official interpretation of statutory law.

However, this does not mean that the regulations does not have appreciably authoritative weight, but it is just that the weight of authority of the regulation is less than the weight of the Internal Revenue Code.

6 0

3 years ago

Cost-push inflation is A. inflation caused by increases in aggregate demand that are not matched by increases in aggregate suppl

Mademuasel [1]

Answer:

C. inflation caused by decreases in aggregate supply that are not matched by decreases in aggregate demand

Explanation:

Inflation occurs when the cost of a basket of goods increases over a period of time. The purchasing power of money is reduced. It is characterised by low supply and high demand.

There are two drivers of inflation: cost push inflation and demand pull inflation.

Cost push inflation results when there is an increase in cost of production of goods and services.

This reduces the amount of goods supplied and increases their price.

Demand does not reduce in this scenario, so reduced supply does not match the excess demand.

On the other hand demand pull inflation occurs when there is increased demand for goods and services. Supply cannot meet the increased demand

4 0

3 years ago

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hour

geniusboy [140]

The materials quantity variance for March for Preble Company, which manufactures a product, is <u>$96,000 Unfavorable</u>.

<h3>What is a materials quantity variance?</h3>

A material quantity variance shows the difference between the actual materials consumed and the budgeted amount in production.

Computing the materials quantity variance helps management to determine the production efficiency.

The materials quantity variance can be computed using the following formula:

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

<h3>Data and Calculations:</h3>

Planned production and sales units = 32,000 units

Actual production and sales units = 37,000 units

<h3>Standard Costs:</h3>

Direct materials: 4 pounds at $8 per pound $ 32

Direct labor: 2 hours at $16 per hour 32

Variable overhead: 2 hours at $6 per hour 12

Total standard cost per unit $ 76

<h3>Actual Costs:</h3>

Purchase of raw materials = 160,000 pounds

Cost of purchase per pound = $7.40

Direct labor hours = 67,000 hours

Direct labor rate = $17 per hour

Total variable manufacturing overhead = $422,100

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

= (37,000 x 4 - 160,000) x $8

= $96,000 Unfavorable

Thus, the materials quantity variance for March for Preble Company is <u>$96,000 Unfavorable</u>.

Learn more about computing variances at brainly.com/question/15858152

3 0

2 years ago

for purposes of the business interest limitation, adjusted taxable income is defined as taxable income allocable to the business

lina2011 [118]

For purposes of the business interest limitation, adjusted taxable income is defined as taxable income allocable to the business computed without regard to interest income, depreciation, amortization, or depletion; interest expense; and net operating loss deductions.

<h3>What do you mean by the taxable income?</h3>

The portion of an individual's or business's income that is subject to taxation after deductions and exemptions is known as taxable income. Salary or earnings, tips, benefits, and investment income are examples of taxable income.

Adjusted taxable income is taxable income allocable to the business that has been calculated without taking into account any of the following: interest income, depreciation, amortization, or depletion; interest expense; or net operating loss deductions.

Compensation, businesses, partnerships, and royalties are a few examples of sources of taxable income. Due to deductions, taxable income is typically lower than adjusted gross income.

Therefore, for purposes of the business interest limitation, adjusted taxable income is defined as taxable income allocable to the business computed without regard to interest income, depreciation, amortization, or depletion; interest expense; and net operating loss deductions.

To know more about the taxable income, visit:

brainly.com/question/17961582

#SPJ1

8 0

1 year ago

How old are you and when Is your birthday

Dmitriy789 [7]

Answer: 1 year older then u were

Explanation:

4 0

3 years ago

Read 2 more answers