The asset , which has highest liquidity will be cash.
Because cash could be just now in the form of money, it serves as the most liquid asset. Physical currency, savings account balances, as well as checking account balances are all included. Foreign currency is also included, albeit certain foreign currencies could be challenging to convert into a relatively local currency.
Cash serves as the most liquid asset, commodities have varying levels of liquidity, and fixed assets are often nonliquid. Real estate, for instance, would not be regarded a liquid asset.
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More motivation. less things happening around them. wider attention span. i dont know anything about business, so i dont know if these were the answers you were looking for, but i hope i helped you. if i think of more ill comment them.
Answer:
$4,277.5
Explanation:
Given:
Selling cost of the house = $245,000
Percentage of commission = 3%
Amount of commission = 0.03 × $245,000 = $7,350
Now,
The salesperson is on a 65% commission schedule with her broker
This means that the salesperson will get only 65% of the amount of commission
thus,
Commission to paid = 0.65 × $7,350 = $4,777.5
The final amount received = Commission - office expenses
or
The final amount received = $4,777.5 - $500 = $4,277.5
Answer:
1. Tax avoidance
2.Tax avoidance
3.Tax evasion
Explanation:
Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.
Examples of tax avoidance are;
1. Andrea keeps a record of all her business related expenses.
2. Daniel claims the amount of interest paid for his mortgage as tax deductions.
Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.
Example of tax evasion is ;
3. Christian did not report the tips he earned on his tax return.
Answer: revenue of $10,000 in 2017
Explanation:
Accrual basis of accounting is a method that is used in accounting whereby the revenue or expenses have to be recorded when the transaction is made and not when the payment dor the transaction is made or received.
Since we are told that Costello Company performs work for a customer and bills the customer $10,000 in 2017, therefore if Costello uses the accrual-basis of accounting, then Costello will report revenue of $10,000 in 2017.