Not the place to be asking but at this point they are pretty well known.
Answer:
Explanation:
Because land never depreciates, Western Bank & Trust wanted to distribute a higher percentage of the purchase price to the building, rather than the land. By allocating 90% of the purchase price to the building, rather than a more accurate 70%, Western Bank & Trust increases the depreciation amount of the building each year. For tax purposes, the IRS requires that the Modified Accelerated Cost Recovery System (MACRS) be used as the depreciation method used by companies. Under this method, the IRS specifies the useful life for a specific asset. MACRS also ignores residual value of an asset at the end of its useful life. By stating that the building was worth 90% of the total purchase price, Western Bank is attempting to increase its tax deduction from the IRS, because only the building depreciates, not the land. This improper allocation of the total purchase amount violates GAAP principles, which require that accounting information be “relevant and have faithful representation.” The information must be “complete, neutral, and free from error” (Nobles, Mattison, & Matsumura, 2014). For Western Bank to provide complete, neutral, and free from error information, it should record the transaction honestly: 70% to the building, 30% to the land. This dishonest representation is harmful to the federal government in that it is allowing Western Bank to take more money than what it is owed. If these kinds of situations happen on a large scale, it could have a huge impact on the economy in general. Source: Nobles, T., Mattison, B., & Matsumura, E. M. (2014). Horngren's Accounting, 10th Edition. Pearson Education, Inc. Student 2
Well a bond is a government loan where they take ur money and pay u back with interest usually low interest tho
Answer:
Jenny is engaging in Limited Decision Making.
Explanation: Limited Decision Making is the process in which a consumer spends time to compare between products and services that they are familiar with, but will need time to come to a reasonable decision that they believe is worth their money.
Sometimes, customers may come across brands that are unfamiliar within a familiar category, they will therefore need to gather information about this brand, and how it compares to the familiar brands that they are used to. This is also Limited Decision Making.
An example is when a consumer finds a new soft drink among familiar soft drinks that he/she is used to.
