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nexus9112 [7]
3 years ago
5

Ivory Fast Delivery Company, an accrual basis taxpayer, frequently has claims for damages to property the company delivered. Oft

en the claim is not filed until a month after the delivery. In the past, approximately 80% of the claims are paid by Ivory. In 2017, claims for $80,000 were filed. The company refused to pay $20,000 of the claims (because they were not valid), and paid $50,000 . The
remaining $10,000 in claims were processed and paid in January 2018 . Also, in January 2018, claims for $8,000 were filed for deliveries made in 2017, and $6,000 was paid on these claims by March 15, 2018 . Ivory has not elected to use the recurring item exception to economic performance. Under the all-events and economic performance tests, Ivory can accrue as an expense for 2017:
a. $68,000.
b. $66,000.
c. $60,000.
d. $50,000.
e. None of the above.
Business
1 answer:
Virty [35]3 years ago
4 0

Answer:

D) $50,000.

Explanation:

Economic performance requires that the company provided services or products to another party (i.e. a customer).

The all-events test states that all the events that caused the liability actually occurred during the accounting period and that occurrence can be accurately established. During 2017, the company could only accurately establish that $50,000 of the claims were real.

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Answer:

Answer

Explanation:

I would most likely accept the promotion.

Several factors would influence my decision.

- The new scope of responsibilities

This will include all the additional risks and tasks that I will get by accepting the promotion. Taking new responsibilities might sound scary, and many people will be discouraged by this. But at some point, all great leaders are someone without any experience too. As long as we are open to criticism, we will adapt to our new responsibilities.

- the new pay raise

Economic gain usually comes with promotion. It will motivate me to do more for the company.

- The likelihood of me getting another promotion chance

Chances like this do not come often in our life. The fact that I'm offered a promotion means that the higher up has reviewed my previous work result and determine that I'm the best option for them. I would not let this chance go to waste.

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3 years ago
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Mnemonics are a tool to aid which of the following?
scoray [572]

Answer:

B. Memory

Explanation:

Mnemonics are a tool to aid memory.

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3 years ago
On February 1, the Acts Tax Service received a $3,600 cash retainer for tax preparation services to be provided rateably over th
MatroZZZ [7]

Answer:

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7 0
3 years ago
Which of the following statements is true regarding today's marketing communications?
Blababa [14]

Answer:

Letter E is correct. <em>Today's consumers are better informed about products and services.</em>

Explanation:

We live in the information age, this means that today's marketing communication is much more direct and accurate. Information is easily disseminated through all easily accessible channels: internet, television, newspapers and magazines, so access to knowledge increases the participation of individuals, who now have much more power to modify their relationship with companies, brands and Marketplace.

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3 years ago
__________ showed that people learn to behave in certain ways because of reinforcement. A. John B. Watson B. B. F. Skinner C. Wi
HACTEHA [7]

Answer:

The answer is B.F. Skinner.  

Explanation:

B.F. Skinner showed that people learn to behave in certain ways because of reinforcement. He is considered the father of this theory. Conversely, Sigmund Freud proposed classical conditioning.

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