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bekas [8.4K]
2 years ago
5

Microsoft receives a cash payment in advance for cloud services is an example of

Business
1 answer:
Dahasolnce [82]2 years ago
8 0
1. Unearned Revenue
2. Accrued Expense
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phyllis, who is single, has itemized deductions totaling $20,000. she overpaid her 2018 state income tax and is entitled to a re
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It is true that if an overpayment resulted in a tax benefit, it makes no difference whether it is reimbursed or used to reduce the 2019 state federal income tax due.

The Internal Revenue Service (IRS) imposes a levy known as the federal income tax on the yearly income of people, businesses, trusts, and other legal entities. All forms of income that constitute a taxpayer's taxable income are subject to federal income taxes, including wages, salaries, commissions, bonuses, tips, investment income, and certain categories of unearned income.

Individual federal income tax rates in the US are progressive, which means that they rise in proportion to taxable income. Federal income tax rates range from 10% to 37%, and they become effective at a certain level of income. Tax brackets are the ranges of income that the rates apply to. Income that is subject to each bracket is taxed at that rate.

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I was doing good until this question
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i believe it is all but 2

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the measure and establishment of the boundaries of a particular property usually identify by middle stakes embedded at the corne
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B is the answer girlie
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What corporation provided a grant to fund a program in the 1980s to expose young people to capitalism through FBLA?
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Which are 3 common misconceptions users of an income statement may have?
Mama L [17]

The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.

One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.

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