Answer: False
Explanation:
The statement in the question that a classified income statement has four major sections which are the operating revenues, cost of goods sold, operating expenses, and non-operating revenues and accounts receivables is not true.
It should be noted that a classified income statement is made up of the revenue, the expenses and the non operating revenues and expenses.
Answer:
D. Medical expenses
Explanation:
The California tax law follows the new federal tax provision for the year 2018 for medical expenses. Only part of the medical expenses can be deducted which is allowed as per federal tax law, that is, 7.5% of the adjusted gross income.
If smileytown consumed 50,000 tubes of toothpaste in 2019, and in 2020, toothpaste consumption rose to 62,000 tubes, then there is a 24 percentage of change in the toothpaste consumption.
<h3>What is the significance of consumption?</h3>
The consumption of any commodity can be referred to or considered as the quantity purchased by consumers for utilization in an economy during a given period of time.
We can infer that 50000 + 24% = 62000, and thus, the percentage change in the toothpaste consumption of smileytown between 2019 and 2020 is 24 percent.
Therefore, the significance regarding the change in consumption has been aforementioned.
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The one that represent typical account fees are : minimum balance fees,
service fees, and/or ATM fees. These are all common in personal
finances.
Minimum balance fees is the the fees needed to make your
account stays afloat, service fees is the fee that covers your
operational service while ATM fees is the fees to maintain your ATM
Card.
