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2 years ago

the direct write-off method is used for tax purposes but is generally not permitted for financial reporting. true or false?

1 answer:

4 0

True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.

Direct write-off method occur when account receivable uncollectible are written or recorded as bad debt and this occur when the money a company is expecting to receive from their customers or clients are uncollectible because the customer did not pay.

Direct write-off method is used for tax purposes because bad debt expense is recorded based on uncollectible amount which is the amount a company is not expecting to receive from their debtors.

This method is not in accordance with the Generally accepted accounting principles which is why it is generally not permitted for financial reporting.

Inconclusion True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.

Learn more about direct write-off method here:brainly.com/question/12419642

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Alina [70]

Answer:

c. Synergistic Strategic Alliance

Explanation:

Synergistic Strategic Alliance is a two-way partnership where both of them collaborate with each other and share their core competencies with one another to make their total output more than mutual individual outputs.

Therefore, through synergistic actions, both companies turn their vulnerabilities into strengths and thus become more effective on the marketplace.

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3 years ago

I want to know what is the correct thing to invest into

vladimir1956 [14]

Answer:

Roth ira

Explanation:

Because you are sort of young, you should invest into a roth ira, because there are retirement tax breaks put on it, plus in an smp 500 account it will grow with the market at about 8% interest per year on average. this is good, because it is pretty much guaranteed growth. that will double the amount of money for 5 or 6 times over creating a nice retirement fund for your old age, but honestly there are other strategies, this is just for sticking money in the ground and forgetting about it, letting it grow for you. low risk, and relatively high reward after a long period of time.

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3 years ago

Elite Stationary employs 20 full-time employees and 10 trainees. Direct and indirect costs are applied on a professional labor

kolezko [41]

Answer:

Since cost per hour of full-time employees is $150, while cost per hour of trainees $27, clients using proportionately more full-time employees than trainees will be under billed or charged for the resources or labor hour used.

Explanation:

The data in the question are merged and they are first separated before answering the question as follows:

Details Budget Actual

Indirect costs $250,000 $400,000

Annual salary of each employee $200,000 $250,000

Annual salary of each trainee $40,000 $45,000

Total professional labor-hours 40,000 dlh 50,000 dlh

In normal costing system, actual costs are used.

Therefore, labor hours for each category and cost per hour can be calculated as follows:

Full-time employees total labor hours = (20/30) * 50,000 = 33,333 hours

Each full-time employee annual labor hour = 33,333/20 = 1,667 hours

Cost per hour of full-time employees = $250,000/1,667 = $150 per hour

Trainee total labor hours = (10/30) * 50,000 = 16,667 hours

Each trainee annual labor hours = 16,667/10 = 1,667 hours

Cost per hour of trainees = $45,000/1,667 = $27 per hour

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2 years ago

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Sindrei [870]

The answer would be 900k I thinkg

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3 years ago

A non-linear production possibilities model assumes that

mixer [17]

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3 years ago

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