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2 years ago

True or False. A single working person may claim themselves as a dependent.

Business

2 answers:

slamgirl [31]2 years ago

4 0

Answer: I think it’s false

Explanation:

Andrew [12]2 years ago

3 0

Answer:

False

Explanation:

If you don't meet the qualifications to be a qualifying child or qualifying relative, you may be able to claim yourself as a dependent. Think of a personal exemption as “claiming yourself.” You are not your own dependent, but you can potentially claim a personal exemption.

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Your firm has net income of $312 on total sales of $1,320. Costs are $730 and depreciation is $110. The tax rate is 35 percent.

iren [92.7K]

The answer will be b

8 0

3 years ago

The cost constraint suggests that, even when the cost of providing accounting information exceeds its benefit, the financial acc

Alekssandra [29.7K]

Answer:

False

Explanation:

The GAAP established that when the benefits of obtaining accounting information are lower than the costs of providing that information, the information should not be provided.

For example, sometimes there are very small differences in certain accounts that don't allow a balance sheet to be balanced. If the accounting error is very small, e.g. just a few hundred dollars, then it is not reasonable to have a whole audit team check all the financial statements again to determine what caused the error. An adjusting entry could be made to close the account balances.

Imagine you are an auditor that must check the physical inventory of a factory and some boxes containing supplies are misplaced. It might take you a whole day to count again all the supplies and materials, but is it worth it? If the supplies were really expensive, probably yes, but if they were cheap components, then probably no.

3 0

3 years ago

Closing entries are not needed if adjusting entries are prepared need not be journalized if adjusting entries are prepared must

anastassius [24]

Answer: Closing entries: <u>" must be journalized and posted ".</u>

Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.

Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.

7 0

3 years ago

Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required 5 direct labor hours to c

Sophie [7]

Answer:

The correct answer is option (B).

Explanation:

According to the scenario, the given data are as follows:

Total cost = $8,600

Total units = 400 Units

Direct labor hour per unit = 5

Variable cost = $1.50

So, we can calculate the fixed cost by using following formula:

Fixed cost = Total cost - Total Direct labor cost

Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000

By putting the value in the formula, we get

Fixed cost = $8,600 - $3,000

= $5,600

5 0

3 years ago

A consumer contest is an example of Group of answer choices sales promotion. public relations. personal selling. indirect sellin

kirill [66]

In marketing, an example of a Sales promotion is a consumer context.

<h3>What is a Sales promotion?</h3>

This refers to strategy employed by a firm who uses a campaign or offer to increase the consumer;s interest or demand in its product

Because the consumer context involves making relevant offers when the customer is poised to make a purchase, this is an example of Sales promotion.

Therefore, the Option A is correct.