1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lana66690 [7]
3 years ago
9

Taxable income of a corporation is based on generally accepted accounting principles. is reported on the corporation's income st

atement. differs from accounting income because companies use the full accrual method for financial reporting but use the modified cash basis for tax reporting. differs from accounting income due to differences in intraperiod allocation between the two methods of income determination.
Business
1 answer:
zheka24 [161]3 years ago
4 0

Answer:

differs from accounting income because companies use the full accrual method for financial reporting but use the modified cash basis for tax reporting.

Explanation:

Corporation is simply a legal entity that existed through either federal or provincial legislation.It includes partnerships, joint stock companies, joint accounts, associations, insurance companies and others.

Taxable income is the amount on which the tax will be put together. They are imcome on which tax must be paid. Taxable income of Corporation includes taxed on earnings, dividends distributed to shareholders are also taxed to the shareholders and it creates double taxation.

You might be interested in
Which of the following is NOT one of the five central and connected sectors of the food supply chain but, rather, a mediating in
Softa [21]

The physical environment

Explanation:

They reach the foods we eat via food supply chains, where food systemically moves from producers to consumers in a domino-like way, and money consumers pay for food goes to people who are working in the opposite direction at several stages along the food supply chain.

Composed of 5 central and connected sectors (input, production, processing, distribution, and consumption)

Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation.

7 0
4 years ago
If the price of coffee cups falls and the consumer decides to buy more coffee cups solely because they are less expensive, this
Tatiana [17]
Consumer surplus effect
3 0
4 years ago
Harrod Company paid $4,800 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The b
Cerrena [4.2K]

Answer:

Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400.

Explanation:

The journal entry is given below

Insurance expense A/c Dr $2,400

        To Prepaid Insurance $2,400

(Being insurance expense is recorded)

The computation is shown below:

= Insurance premium ÷ number of months × required months

= $4,800 ÷ 4 months × 2 months

= $2,400 months

The 2 months is taken from November 1 to December 31

6 0
4 years ago
Do you think product instruction are useful for users to use products better? ielts speaking
Elena L [17]

Yes, Product instruction are very useful for users to use products better which are presented on a User-Manual.

Product instruction or user guide tells people how to use the product in an efficient way. Product instruction  usually contains step-by-step information about product’s feature and highlights the main features. It has proper description about how to use a particular product.

Product instruction provide information on how to use a particular product. This intents to provide proper usage advice and reduce the risk of bringing the product inoperable condition. Sometimes improper usage of product such as heat and fire generating devices; lasers and high voltage devices can cause serious injuries so it helps the user to avoid such conditions.

Product instruction explains  the customer on how to use a particular feature of a product. All the information collected together in one place, so it saves time also. User does not has to look here and there for information.

To learn more about Product instruction here

brainly.com/question/23040788

#SPJ4

5 0
2 years ago
Juxipi Inc. is well known for having a stronger credit score than its competitors. that is why, buyers are more willing to buy p
rewona [7]

Answer:

d. Commercial paper

Explanation:

-Short-term bank loans is a loan that has to be paid back in a year.

-Factoring is when a company sells its accounts receivable to another company at a cheaper price.

-Trade credit is a credit that a supplier gives to its clients to make the payments later.

-Commercial paper is a promissory note used by companies to get money to cover short-term liabilities and has a period of time of up to a year.  

According to this, the answer us that the short-term financing option that is being offered by Juxipi Inc. in the given scenario is commercial paper.

4 0
4 years ago
Other questions:
  • The Kwok Company’s inventory balance on December 31, 2021, was $215,000 (based on a 12/31/2021 physical count) before considerin
    7·1 answer
  • publishers were surprised by the dramatic success of the book Fifty Shades of Grey and believe that it would likely generate a f
    12·2 answers
  • "The media doesn't tell us what to think, but it tells us what to think about" describes the _____ function of the media.
    5·1 answer
  • Originally attributed to the Greek philosopher Aristotle,______ _____
    14·1 answer
  • True or False: In the event of a skyjacking, you should immediately attempt to subdue the skyjackers
    11·1 answer
  • When preparing to work on a project, teams should name a meeting leader to plan and conduct meetings, a recorder to keep a recor
    11·1 answer
  • Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department
    13·1 answer
  • Select the correct answer.
    13·1 answer
  • In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year’s inflation rate? In contrast, suppo
    14·1 answer
  • If you want to stregthen your bones, add an eight
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!