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2 years ago

If you have to decide to claim a credit or deduction on your taxes which should you take everfi

Business

1 answer:

Novosadov [1.4K]2 years ago

8 0

It should be noted that based on the information given, the appropriate one to choose will be a tax credit.

A tax deduction simply means the deduction that lowers the tax liability of an economic entity by lowering the taxable income.

If an individual wants to decide to claim a credit or deduction on their taxes, the one that should be chosen will be a tax credit. This is because it directly reduces the tax of the individual.

Learn more about tax on:

brainly.com/question/25821146

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Use the adjusted trial balance for stockton company below to answer the questions that follow. stockton company adjusted trial b

Katyanochek1 [597]

Answer: The Owner’s Equity ending balance is $15,730.

Explanation: In order to calculate the ending owner’s equity you need to identify the capital, revenue and expense accounts.

The Owner’s Equity is $12,940 and withdrawals are $790.

Revenue (Fees Earned) is $9,250.

Expenses equal 2,500 + 1,960 + 775 + 250 + 185 = $5,670.

Now that we have identified the each of the three categories, we will use the owner’s equity equation.

Owner’s Equity = Capital - Drawing + Revenues - Expenses

Owner’s Equity = $12,940 - 790 + 9,250 - 5,670

Owner’s Equity = $15,730

8 0

3 years ago

Organizations can use common core security principles recommended as industry best practices when developing policies, standards

egoroff_w [7]

Answer:

Timeliness principle.

Explanation:

Industry best practices can be used by various organizations as common core security principles to manage and control most, if not all of their assets and resources. These security principles can be adopted during the process of developing organizational policies, standards, baselines, procedures, and guidelines to effectively and efficiently manage the organization.

Timeliness principle can be defined as a principle which states that all stakeholders involved in the securitization of an organization and assets must act in a timely manner for the constant monitoring of the current and future state of the organization's assets, so as to avoid the integrity of its security being breached or compromised.

Hence, the principle which typically specifies that all personnel, assigned agents, and third-party providers should act in a timely manner to prevent and to respond to security breaches is known as the timeliness principle.

4 0

3 years ago

Stryker Industries received an offer from an exporter for 27,000 units of product at $17 per unit. The acceptance of the offer w

Aloiza [94]

Answer:

$162,000

Explanation:

Income Statement - New Offer

Sales (27,000 x $17) $459,000

Less Variable Costs of the offer :

Variable manufacturing costs (27,000 x $11) ($297,000)

Net Income (Loss) $162,000

therefore,

the amount of income from the acceptance of the offer is $162,000

7 0

3 years ago

How is a credit card union different from a retail bank

ziro4ka [17]

Credit Unions are not profit fiancial cooperatives whose earnings are paid back to members in the form of higher saving rates and lower rates Banks are for profit business with earning paid to stockholders only. Hope this Helps?

8 0

4 years ago

Which of the following is an example of direct labor cost for a cell phone manufacturer? a.salary of plant supervisor b.cost of

insens350 [35]

Answer:

d.cost of wages of assembly worker

Explanation:

The following are not related to cost of producing the cell phone because

a.salary of plant supervisor: Overall supervisors are accountable of various product of the organisation for example the plant might have five outputs with the cell phone being one of them therefore his/her labor costs are not related to a certain product.

b.cost of phone components : Direct labor is related to cost of paying workers in an organisation therefore cost of phone components doesn't have anything to do with people.

c.cost of oil lubricants for factory machinery : explanation is the same as in b

d.cost of wages of assembly worker : the worker the directly linked to the production of the product thus his/her wages are a direct labor cost to the manufacturer.

5 0

3 years ago