Answer:
The correct answer is A
Explanation:
A substantial understatement may occur when tax return is understated by an amount greater than 10% of the tax required to be shown on the tax return.
Example: If a tax payer that is suppose to report a $6000 tax due and choose to report a $2000 instead, to know if a penalty will be charged or not it has to be greater than 10% of the amount which is suppose to be reported (i.e $6000 x 10% = 600) . therefore in the case shown above the penalty will be applied
Answer: b) import cotton.
Explanation:
If the international price is cotton is less than the price that a country produces it at, it is best that the country imports the cotton than produce it because they do not have a competitive advantage in producing the cotton.
Should they then import, the resources that were being used to produce the cotton can be used on other things that they do have competitive advantage in.
Answer: Option E
Explanation: Liberalism is a political philosophy which mainly focuses on giving equality and same opportunities to all. In such a policy the government of the country takes active participation in all the sectors to ensure that no discrimination with anyone is taking place.
This philosophy is based on strict monitoring and taking corrective actions in case of any discrepancy.
Hence from the above we can conclude that the correct answer is E.
Answer: Spontaneous debt financing plus bank loans plus owners investment plus retained earnings.
Explanation: It is the general rule in accounting that assets of any business entity will always be equal to the capital invested from different sources and the liabilities taken over by the business for funds. Debt, owners equity and retained earnings are a source of capital whereas bank loans is a liability .
Answer:
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