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Artemon [7]
2 years ago
9

G Obligations to be paid within one year or the company's operating cycle, whichever is longer, are:

Business
1 answer:
harina [27]2 years ago
8 0

Answer:

Current liabilities

Explanation:

Liabilities are debts that a company owes to other parties. They are classified based on when payment is due.

Those due within a short period are called current liabilities while those due in the distant future are called long term liability.

Current liability payments falls within one year or the operating cycle of a business whichever is longer.

They occur as a result of purchases made on credit payable in a short period

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The IRS assessed a large tax and penalty against Karl. Karl retained Roger, the CPA who prepared the tax returns, to challenge t
soldi70 [24.7K]

Answer:

d.economic duress

Explanation:

The economic duress in simple terms means a party who is entering into a contract frightens or threatens of cancelling the contract or does not act according to the terms of the contract unless the other party in the contract agrees to their demands.

In the context, the conduct of Roger against Karl is probably can be called as the 'economic duress' as Roger informs Karl before the deadline of filing the response that he will not represent himself against IRS unless Karl enters into a deal of an expensive retainer agreement. Thus it is an economic duress that Roger is showing and forcing Karl to agree on his demands.

7 0
3 years ago
Beaverton Lumber purchased a milling machine for $35,000. In addition to the purchase price, Beaverton made the following expend
salantis [7]

Answer:

$41,500

Explanation:

Calculation to determine What was the initial cost of the machine to be capitalized

Purchase price $35,000

Add Freight $1,500

Add Installation $3,000

Add Testing $2,000

Total Cost $41,500

Therefore the initial cost of the machine is $41,500

3 0
2 years ago
Dove and Eagle formed a business entity in which they are equal owners. Dove contributed cash of $100,000, and Eagle contributed
nlexa [21]

Answer:

S corporation

Explanation:

In the given case, The eagle basis at the closing of the year is 70,000 i.e. $40,000 + $30,000 (50% of $60,000)

In the case when the entity was a general partnership so 50% of $10,000 i.e. $5,000 would be added to the basis of Eagle

So here the type of entity that was formed is S corporation

The same is relevant

4 0
2 years ago
Ssume that the mpc is 0.8 and the reserve requirement is 0.1. if the federal reserve needs to increase aggregate demand by $100
ANTONII [103]
0.7 that si probably it
3 0
2 years ago
Mark and Rasheed are at the bookstore buying new calculators for the semester. Mark is willing to pay $75 and Rasheed is willing
Romashka [77]

Answer:

Mark's individual consumer surplus is $10.

Explanation:

Mark and Rasheed are at the bookstore buying new calculators for the semester.

Mark is willing to pay $75 and Rasheed is willing to pay $100 for a graphing calculator.

The price for a calculator at the bookstore is $65.

The consumer surplus is the difference between the maximum price that a consumer is willing to pay and the price he actually has to pay.

Mark's individual consumer surplus

= Price mark was willing to pay - Price he actually has to pay

= $75 - $65

= $10

4 0
3 years ago
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