Answer:
YES
Explanation:
It is true that the preferential transfer rules that are applied in bankruptcy is affected by whether an insolvent individual debtor filed a voluntary bankruptcy petition as opposed to an involuntary petition.
A preferential transfer can only occur when an insolvent individual, before voluntarily filing for Chapter 7 bankruptcy, settles a creditor or a category of creditors which then implies that the remaining creditors will be entitled to less in the bankruptcy.
Answer:
$42,000
Explanation:
Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.
Insurance expense of $210,000
Tax rate of 20%
( $210,000 × .20 )
=$42,000
Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000
Answer: True
There is sufficient consideration for a valid contract to be developed if need be
Answer:
i dont k but I needed points
Explanation:
sorry
Answer:
absorption
Explanation:
Manufacturing cost can be regarded as the summation of the cost of consumed resources during the production of a product. It can be divided into
direct materials cost
✓ direct labor cost
✓ manufacturing overhead.
It should be noted that All manufacturing costs are assigned to units of product and all non-manufacturing costs are treated as period cost under absorption costing.