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stealth61 [152]
4 years ago
15

If a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the approp

riate action to take?
Business
2 answers:
daser333 [38]4 years ago
7 0

Being on a responsible seat of tax collection department, if a taxpayer offers you $20 in return of your good services, the appropriate action would be NOT to accept the bill. Say him NO in a polite manner and tell him that this is his job and he is already paid by the company for his quality services, so he cannot accept the money.

This will make the taxpayer even happier with the services.

So saying him No, would be the appropriate action.

damaskus [11]4 years ago
4 0
In the case of the scenario given above, the most appropriate action to take is to THANK THE TAX PAYER AND EXPLAIN THAT YOU CAN NOT ACCEPT ANY PAYMENT FOR YOUR SERVICES.
The principal mission of VITA/TCE [Volunteer Income Tax Assistant /Tax Counselling for the Elderly] is to assist tax payers in filling tax forms correctly without collecting any money from them. Thus, it is part of the standard of the program that volunteers should never accept any form of payment or solicit for donations in return for the services that they render. 
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Millcorp sells wetsuits for deep sea divers. It recently engineered a new material for its wetsuits to better hold in the wearer
spin [16.1K]

Answer:

B) Millcorp has a lawful innocent acquisition of a monopoly.

8 0
3 years ago
Read 2 more answers
A partial listing of costs incurred during March at Febbo Corporation appears below: Factory supplies $ 9,000 Administrative wag
Anika [276]

Answer:

$ 68,000

Explanation:

The total manufacturing overhead costs should include the following heads:

Factory Supplies                                           $    9,000

Factory depreciation                                    $   33,000

Indirect labor                                                 $  26,000

Total manufacturing overhead                    $  68,000

The direct materials and direct labor are not part of the manufacturing overhead. though they are part of the manufacturing costs.

The admin  wages and salaries, corporate headquarters rent and the marketing costs are not manufacturing costs

7 0
3 years ago
During the year, Trombley Incorporated has the following inventory transactions.
Furkat [3]

Answer:

a. Ending inventory = $162, Cost of Sales = $593, Gross Profit = $478

b. Ending inventory = $227, Cost of Sales = $528, Gross Profit = $543

c. Ending inventory = $492.30, Cost of Sales = $557.94 , Gross Profit = $513.06

d. FIFO

Explanation:

FIFO

Ending inventory = 18 units × $9   = $162

                                Total               = $162

Cost of Sales = 11 units × $13 = $143

                         16 units × $12= $192

                         21 units × $11 = $231

                           3 units × $9 = $27

                         Total              = $593

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $593

                   = $1,071 - $593

                   = $478

LIFO

Ending inventory = 11 units × $13    = $143

                                 7 units × $12   =  $84

                                 Total               = $227

Cost of Sales = 9 units × $12 = $108

                         21 units × $11 = $231

                         21 units × $9 = $189

                         Total              = $528

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $528

                   = $1,071 - $528

                   = $543

Weighted-average cost

First determine the average cost.

Average cost = Total Cost / Total units

                      = $ 755 / 69

                      = $10.94

Ending inventory = Units Remaining × Average Price

                             = 45 units × $10.94

                             = $492.30

Cost of Sales = Units Sold × Average Cost

                      = 51 units × $10.94

                      = $557.94

Gross Profit = Sales less Cost of Sales

                   = (51 units × $21) - $557.94

                   = $1,071.00 - $557.94

                   = $513.06

8 0
3 years ago
A customer wishes to place a buy order for a security that has not been registered with the SEC. The security may be purchased i
cupoosta [38]

Complete Question:

A customer wishes to place a buy order for a security that has not been registered with the SEC. The purchase order can be filled if the security:

A. is exempt from SEC registration

B. is traded by at least 2 market makers

C. has been trading in the market for at least 1 year

D. is sold to professional investors

Answer:

Is exempt from SEC registration

Explanation:

The Securities and Exchange Commission (SEC) is a regulatory agency that is saddled with the responsibility of regulating the capital market and ensuring investors are well protected by making sure standard rules are followed.

If a customer wishes to place a buy order for a security that has not been registered with the Securities and Exchange Commission (SEC). The security may be purchased if the security is exempt from SEC registration.

By standard, the SEC states and implore investors to purchase only securities that are registered with the securities and exchange commission (SEC) or only when an exemption is made available. If securities have been trading for about a year or is being traded by a minimum of two companies, no exemption would be given by the SEC.  

Also, there isn't any exemption for securities that is sold only to professional investors.

However, investors can purchase municipal and government securities even without it being registered with the securities and exchange commission.

<em>In a nutshell, the customer can only purchase a security that has not been registered only if it is exempted from SEC registration. </em>

3 0
3 years ago
The net decrease in Prepaid Expenses (Prepaid) amounts to $30,000 and the net decrease in Accounts Payable (AP) is $20,000. Assu
tester [92]

Answer:

Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.

Net decrease in Accounts payable of $20,000 will be deducted from net income in adjustments to net income because decrease in accounts payable means that cash has been paid to the outstanding payables.

Net effect of the above transactions is $30,000 - $20,000 = $10,000

So, net income will be increased by $10,000 as net effect of the above adjustments.

7 0
3 years ago
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