Answer:
The correct answer is a. Preparing a tax return is a fairly simple process, if you know what documents you need.
Explanation:
Terror should not be imposed on people, due to the complexity that in some cases merits the professional advice of an accountant. For this reason, the best thesis that Morgan can use is to make them see that the process does not really involve excessive efforts if you have all the information at hand. The basic premise in tax matters is the organization, the basic knowledge of the standard ensures important levels of trust.
Answer:
C. a debit to Bad Debts Expense account
Explanation:
using the direct write-off method, we do not use the allowance. At write-off we recognize the directly the bad debt expense and decrease the accounts receivable.
Is important to notice that the direct method violates the accounting matching principles as, it recognize an expense based on events which occured at prior periods
Answer:
Federal funds.
Explanation:
The Federal Reserve System (the 'Fed) was created by the Federal Reserve Act, passed by Congress in 1913. The Fed began operations in 1914. It was founded by President Woodrow Wilson under the Federal Reserve Act, which was aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.
Like all central banks, the Federal Reserve is a government agency that is saddled with the following responsibilities;
- Controlling the issuance of currency in United States of America (it promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets).
- Providing banking services to all the commercial banks in the country (the Federal Reserve is the "lender of last resort).
- Regulating banking activities (it has the power to supervise and regulate banks).
When a bank has excess reserves and the bank loans those excess reserves to other banks that need to borrow to meet their reserve requirements, the excess reserves that are loaned are called federal funds.
I believe the answer is: Injury
Risk refers to the danger or negative outcomes that arise when we decided to follow a certain decision.
From the options above, taxes and rent are considered as Obligations rather than a risk.
And insurance is considered as risk management, not the risk itself.
