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Ket [755]
3 years ago
13

Which of the following is a condition that triggers the penalty for negligence or intentional disregard? 1) the taxpayer underst

ates their tax by the larger of $5,000 or 10% of the correct tax. 2) the taxpayer shows negligence or disregard of the rules or regulations, causing an underpayment. 3)The taxpayer fails to pay the tax owed by the due date. 4) the taxpayer fails to file the return by the due date, and there is balance due.
Business
1 answer:
Vsevolod [243]3 years ago
5 0

Answer:

2) the taxpayer shows negligence or disregard of the rules or regulations, causing an underpayment.

Explanation:

             When any taxpayer shows some negligence or if they disregard the rules and the regulations, causing an underpayment, then it leads to a penalty for the disregard or the negligence.

              Also, when a taxpayer intentionally understates his or her tax by a larger of $5000 or a 10% of his / her correct tax, then it is an accuracy related penalty.

              And, also the information related penalties which are levied for failure of  taxpayer to pay the amount of tax owed by  due date and also failure to filing the return by the due date.

Thus option (2) is correct.

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Hollandaise contains mostly
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Hiya! hollandaise sauce mostly contains equal parts of egg yolk and butter.
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3 years ago
You created a financial model for a pitchbook being presented tomorrow to a potential new client. While reviewing the final vers
sashaice [31]

Explanation:

A pitchbook is confidential document. It is basically a sales document, used by the sales force, which contains main features or attributes of the firm, the potential of the firm and the future aspects of the firm in detail.

So keeping the given question in mind, I would write to my supervisor as follows:

Subject: Assistance Required

Body:

Dear Sir,

By reviewing the whole document finally, which is to be presented to the client tomorrow, I found some mistakes in the results. I came to know that the results are incorrect and are surely needed to be corrected before the presentation.

I recommend you to delay the meeting for 3 hours by the scheduled time, as i need to check and correct the whole figures again and this would take time.

I am looking forwards for your advice.

Best Regards

6 0
3 years ago
With increased economic progress, cultures across the world seem to be moving toward some universally accepted values and norms.
lawyer [7]

Answer:

The correct answer is letter "E": convergence hypothesis

Explanation:

In Economics, the convergence hypothesis describes how increasing industrialization in different countries could lead to transform the economy to an industrialized world where the <em>same societal patterns, ideologies, behaviors, and customs</em> will be spread which is likely to create a global culture.

7 0
3 years ago
An emphasis is placed on proper income statement item recognition under what approach under US GAAP?
Over [174]

Answer:

Revenue /expense approach

Explanation:

As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss

So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered

3 0
3 years ago
Keisha Tombert, the bookkeeper for Vaughn Consulting, a political consulting firm, has recently completed a managerial accountin
Serjik [45]

Answer:

$23,290.00

Explanation:

Preparation forn a schedule of cost of contract services performed

Supplies used on consulting contracts 1,940.00

Salaries of professionals working on contract 16,400.00

Service Overhead:

Janitorial services for professional offices 800.00

Insurance on contract operations 880.00

Utilities for contract operations 2,360.00

Depreciation on equipment used for contract work 910.00

Total service overhead 4,950.00

(800.00+880.00+2,360.00+910.00)

Cost of Contract Services Provided 23,290.00

(1,940.00+16,400.00+4,950.00)

Administrative expenses:

Supplies used in administrative offices 1,700.00

Depreciation on administrative office equipment 1,450.00

Salaries of administrative office personnel 8,690.00

Janitorial services for administrative offices 580.00

Insurance on administrative operations 930.00

Utilities for administrative offices 1,930.00

TOTAL 15,280

Therefore the schedule of cost of contract services performed will be 23,290.00

4 0
3 years ago
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