The answer that would be irrelevant in determining whether a tuition payment made on behalf of another individual is excludable for gift tax purposes is: "Was the tuition payment made for a part-time student?".
What is the tuition payment about?In the context of gift tax, whether the tuition payment was made for a part-time student, whether the educational organization was located in a foreign country, and whether the tuition payment was made for a family member are not relevant factors in determining whether the payment is excludible from gift tax.
Therefore, If the payment is made directly to the educational organization, then it is excludible from gift tax regardless of whether the student is part-time or full-time, whether the educational organization is located in a foreign country or not, and whether the payment is made for a family member or not. If the payment is not made directly to the educational organization, then it may be subject to gift tax.
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Which of the following sales forecast methods uses historical sales data to discover a pattern in sales over time?
a. market tests.
b. surveys
c. time series analysis
d. executive judgment
The sales forecast methods uses historical sales data to discover a pattern in sales over time series analysis.
What are the five methods of forecasting?Businesses and organisations use a variety of forecasting techniques to predict future trends and outcomes. The following are five common forecasting methods: Time-series analysis: This method examines historical data to identify patterns and trends that can then be used to forecast the future. Regression analysis: This technique employs statistical techniques to determine the relationship between variables, which can then be used to forecast future outcomes. Qualitative methods include techniques such as expert opinions, market research, and surveys to gather data on future trends and preferences. Simulation is a method that employs computer models to simulate real-world scenarios and predict outcomes based on various variables and assumptions.
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The purchasing power of money:
A) decreases as the price level decreases.
B) is not impacted by inflation, only by monetary policy.
C) rises when inflation rises.
D) decreases with inflation.
D) As a result of inflation, money starts to have less value as a means of exchange.
Inflation: What is it?The term "inflation" in economics is used to denote an increase in a country's overall cost of goods and services. As the overall price level rises, each unit of currency may be used to purchase fewer products and services, which results in a decrease in the purchasing power of money.
The fall in the general level of pricing for goods and services is known as deflation, which is the reverse of inflation. The most popular method of measuring inflation is the inflation rate, which is the annual percentage change in a general price index. The consumer price index (CPI) is frequently employed for this purpose because household costs do not regularly increase. Moreover, there is the employment cost index.
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3a. Calculate the overhead cost per unit for each briefcase by using a plantwide rate based on direct labor costs. Round rates to the nearest cent.
Elegant $fill in the blank 6 per briefcase
Fina $fill in the blank 7 per briefcase
3b. Based on your calculations above which of the following statements is correct?
More machine and setup costs are assigned to Fina than Elegant.
3a. To calculate the overhead cost per unit for each briefcase using a plantwide rate based on direct labor costs, we need to use the following formula:
Overhead cost per unit = Total overhead cost / Total direct labor cost
For Elegant briefcases:
Overhead cost per unit = $fill in the blank / $fill in the blank 6
Overhead cost per unit = $fill in the blank
For Fina briefcases:
Overhead cost per unit = $fill in the blank / $fill in the blank 7
Overhead cost per unit = $fill in the blank
3b. Based on the calculations above, the statement "More machine and setup costs are assigned to Fina than Elegant" is correct. This is because the overhead cost per unit for Fina briefcases is higher than the overhead cost per unit for Elegant briefcases. This means that more overhead costs, which include machine and setup costs, are assigned to Fina briefcases.
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At what time would an entire salesforce, including both new hires and long-term employees, need training
Answer:
Explanation:
An entire salesforce, including both new hires and long-term employees, may need training at various times throughout their careers to stay up-to-date on the latest products, technology, and selling techniques, as well as to address any knowledge or skill gaps.
Here are a few examples of when training may be necessary for the entire salesforce:
New product launches: When a company introduces a new product or service, sales teams need to be trained on the features and benefits of the new offering. This training should be provided to all members of the salesforce, regardless of their tenure.
Changes in sales strategy: If a company shifts its sales strategy, such as moving from a product-focused to a solution-focused approach, all members of the salesforce will need to be trained on the new strategy.
Updates in technology: As technology advances, it's important for sales teams to stay current with the latest tools and platforms. Training on new technology should be provided to all members of the salesforce, including long-term employees.
Performance issues: If the salesforce is not meeting performance goals, training may be necessary to address knowledge or skill gaps. This training should be provided to all members of the salesforce who are struggling to meet targets.
Professional development: Providing ongoing training and development opportunities can help sales teams continue to grow and succeed in their roles. This type of training should be provided to all members of the salesforce, regardless of their tenure.
Overall, it's important to assess the needs of the salesforce regularly and provide training when necessary to ensure that they have the skills and knowledge they need to succeed in their roles.
Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.)
a. Clem is self-employed and this year he incurred $780 in expenses for tools and supplies related to his job. Since neither were covered by a qualified health plan, Wanda paid health insurance premiums of $6,570 to provide coverage for herself and Clem (not through an exchange)
b. Clem and Wanda own a garage downtown that they rent to a local business for storage. This year they incurred expenses of $1,150 in utilities and $1,120 in depreciation.
Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.)
c. Clem paid self-employment tax of $18,300 (the employer portion is $9,150), and Wanda had $5,100 of Social Security taxes withheld from her pay.
Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.)
d. Clem paid $95 to rent a safe deposit box to store his coin collection. Clem has collected coins intermittently since he was a boy, and he expects to sell his collection when he retires.
Clem's expenses on tools, supplies, and medical expenses are deductible under AGI = 6,405
Find out, if any, how much Clem's expenses can be deducted from his AGI this year in the following situations:
a) tools, supplies, and medical expenses are deductible under AGI (1005 x 4570 x 2975);
= 6,405
b) depreciation and utilities are deductible (1750 x 225 x 2975);
= 2955
c) You can deduct half of your Social Security tax (1/2 of 15200 x 7600);
= 9300
d) Since the safe deposit fee is not a business entity but rather an itemized deduction, there is no deduction.
AGI: What is it?
The American income tax system defines an individual's adjusted gross income as their total gross income less certain deductions. The difference between AGI and allowances for personal exemptions and itemized deductions is what is used to calculate taxable income. For most individual tax purposes, AGI is more important than gross income. The AGI calculation is fairly straightforward. It is the sum of your reported tax-exempt income, minus any applicable deductions or "adjustments," which includes dividends, earnings from self-employment, earnings from employment, and interest from a bank account.
Your adjusted gross income is the amount of money you receive each month that must be taxed. AGI is only used in individual tax returns. AGI and net income are not the same thing, despite the fact that they are frequently used interchangeably. Total taxable income is referred to as AGI, while net income is referred to as income after taxes.
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How can a chemical engineer use Sulfuric Acid
The production of fertilizers is currently the single major usage. It is also required in the production of steel, electroplating, and automotive batteries, as well as the purification of petroleum.
What are fertilizers, in a nutshell?
fertilizer is a chemically-composed natural or synthetic ingredient that promotes plant growth and productivity. Fertilizers can replenish chemical elements that previous crops withdrew from the soil or boost the natural fertility of the land. fertilizer. A fertilizer is defined as "any item, organic or inorganic, natural or synthetic, that supplies one or more of the chemical elements necessary for the plant's growth" in the broad definition. The vast majority of fertilizers that are regularly used in agriculture contain the three crucial plant nutrients nitrogen, phosphorus, and potassium.
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McDonald's will recognize a gain if it generates an amount of revenue that is higher than its operating expenses. This statement is
True
False
If McDonald's produces revenue that is more than its operating expenditures, it will record a gain. This claim is untrue.
Give some examples of expenditures :Rent, utilities, pay, salaries, management, depreciation, general liability, and indeed the cost of items sold are a few examples of costs. Costs are often associated costs associated with running a firm.
How should costs be listed?Typical columns are Expenditure, Type, Date, and Amount, running from left to right. List all of your spending in order of most recent to least current. Include the total at the bottom after adding up all the costs. Put a "Total" next to it.
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Classify each cost for Angels December operations into one of the following categories: direct materials, direct
labor, overhead, or selling and administrative expenses.
Direct labor and productive labor are the terms used to describe the employees who actually handle and process the various materials, either directly or with the help of equipment.
What is meant by direct labor?A portion of the wage budget or payroll known as direct labor costs is closely and frequently linked to or connected with the production of a good, the completion of a specific task order, or the rendering of a service.
The technique being utilized to make the part or product, the design of the part or product, and the productivity of the worker conducting the operations generally define the direct labor unit costs. The more sophisticated the manufacturing technology, the more reliable the part or product.
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The town recreation department ordered a total of 100 baseballs and bats for the summer baseball camp. Baseballs cost $4. 50 each and bats cost $20 each. The total purchase was $822. How many bats were ordered?.
The metropolis exercise department ordered a total of one hundred baseballs and bats for the summer season baseball camp. There seventy-six bats and 24 balls had been ordered
let x no. of balls be ordered
let y no. of bats be ordered
1 ball costs $4.50 so X no. of balls will cost $4.50x
1 bat costs $20 so y no. of bats will cost $20y
the sum of the price of bats and balls is equal to $822
i.e $4.50x + $20y = $822 ----------(1)
total no. of bats and balls is 100
therefore, x + y = 100--------(2)
on multiplying (2) by 20 we get
20x + 20y = 2000-------(3)
now subtract equations (3) and (1)
20x + 20y = 2000
4.5x +20y = 822 - -. -
15.5x = 1178
X= 1178÷15.5
X= 76, now positioned the cost of X in (2)
76 + y = 100
y = 100 - 76
y = 24
There 76 bats and 24 balls have been ordered
A baseball camp in business is a program that offers baseball training and coaching services to children and young adults. These camps are usually operated by experienced baseball coaches and trainers, who aim to provide a safe and fun environment for young baseball players to develop their skills, build teamwork and sportsmanship, and improve their overall physical fitness.
Baseball camps typically offer a range of services, including skills training, game strategy and analysis, physical conditioning, and mental preparation. They may also include competitions, tournaments, and other fun activities that allow participants to showcase their skills and build camaraderie with their peers.
In terms of business, baseball camps generate revenue through registration fees and sponsorships, and may also offer merchandise sales and other services. The success of a baseball camp often depends on its reputation, quality of coaching and facilities, and ability to attract and retain participants over time.
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exercise 3-1 (static) determining when to recognize revenue lo c1 for each of the following separate situations, determine how much revenue is recognized in december (using accrual basis accounting). on december 7, oklahoma city thunder sold a $90 ticket to a basketball game to be played in march. tesla sold and delivered a $58,000 car on december 25. the customer will not pay until february. deloitte signs a contract on december 1 to provide 40 days of advisory services with receipt of $10,000 due at the end of the contract. on december 31, 75% of the services have been completed.
Under accrual basis accounting, revenue is recognized when it is earned, not when it is received. Therefore, for each of the situations described in the question, we must determine when the revenue is earned in order to determine how much revenue is recognized in December.
1. Oklahoma City Thunder sold a $90 ticket to a basketball game to be played in March.
Since the game will not be played until March, the revenue is not earned in December and therefore no revenue is recognized in December.
2. Tesla sold and delivered a $58,000 car on December 25. The customer will not pay until February.
Since the car was delivered in December, the revenue is earned in December and therefore $58,000 of revenue is recognized in December.
3. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $10,000 due at the end of the contract. On December 31, 75% of the services have been completed.
Since 75% of the services have been completed by December 31, 75% of the revenue is earned in December and therefore $7,500 of revenue is recognized in December.
In summary, the amount of revenue recognized in December for each situation is as follows:
1. Oklahoma City Thunder: $0
2. Tesla: $58,000
3. Deloitte: $7,500
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Mclean Consider an essay most recently assigned to you. Identify the most effective academic purpose for the
assignment.
This essay assignment is most effective for teaching students how to support their arguments with evidence and analysis.
What is essay?An essay is a written composition of moderate length in which a writer expresses an opinion, examines an idea, or presents an argument. Essays are designed to test the student's ability to think and write critically. They can range in length from a few paragraphs to many pages, and can cover any number of topics.
By providing a prompt or topic for the essay, it encourages students to go beyond simply stating their opinion and instead to provide evidence and analysis to support their argument. This type of assignment helps to develop critical thinking and analytical skills, which can be applied to many different areas of life.
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In a classroom discussion of the display, in a consolidated balance sheet, of the minority interest of preferred stockholders in the net assets of a subsidiary, student Ross suggested that such a minority interest differs from the minority interest of common stockholders, and thus possibly warrants display in the “mezzanine” section between liabilities and stockholders’ equity. Student Kerry disagrees; she maintains that the term minority applies to preferred stockholders as well as common stockholders other than the parent company; both minority interests are part of consolidated stockholders’ equity. Instructions Do you support the position of student Ross or of student Kerry? Explain.
I would support student Ross suggestion that such a minority interest differs from the minority interest of common stockholders.
What privileges do ordinary stockholders have?Six rights are granted to common shareholders: the ability to vote, the right to own property, the right to transfer ownership, the right to dividends, the right to see corporate records, and the right to bring legal claims for wrongdoing.
What benefits are there for holders of common stock?Generally speaking and over time, investing in common stock has shown to be a wonderful way to generate returns for investors through capital gains and regular dividends. The fact that companies avoid debt commitments by issuing shares, though they do give up some ownership position, is another advantage.
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lassify each of the following costs as either variable, fixed, or mixed Costs are from a manufacturer of portable basketball hoops 1. Factory supervisor salary, 56,000 per month 2. Ulities, 560 per month plus 50 07 per unit produced 3. Assembly worker hourly wages 4. Factory equipment depreciation, 54,000 per month 5. Salesperson pay, 54,000 per month plus 5% of dollar sales 6. Factory insurance $3.500 per month 7. Screws to assemble hoops 8. Factory reri, 35,000 per month 9. Metal for is 10. Class for backboards 11. Oflice salaries 55,000 per month 12. Plastic forhoopbases
Each of the following costs is classified as variable cost, fixed cost, or mixed cost. The costs are mentioned in the table below.
Give a brief account of the various costs.Variable costs are production expenses that rise or fall in response to changes in a company's manufacturing activity. Raw materials used as components of a product, for example, are variable costs because this type of expense typically varies based on the number of units produced.
A fixed cost is the cost of a business expense that does not change regardless of the number of goods and services produced or sold. Fixed costs are recurring expenses that are not directly related to production, such as rent, interest payments, and insurance.
The total cost that combines two types of costs, namely fixed costs and variable costs, and thus implies that a portion of this cost does not change (fixed cost) with changes in production volume. The variable cost, on the other hand, varies with the volume or quantity produced. These expenses are also known as semi-variable expenses.
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Frank got a new job through the valley recruiting service. The job pays $51k per year, and the agency fee is equal to 35% of one month's pay. How much must the employer pay the agency?.
The employer must pay the agency $1,487.50 as the agency fee.
What is Agency Fee?A recruitment agency will bill a business or employer for services linked to finding and hiring new personnel. This price is known as an agency fee. Finding appropriate individuals, reviewing resumes, holding interviews, and offering the employer recommendations are just a few of the services that may be offered.
The agency fee is often determined as a portion of the new hire's first year pay or one month's pay. Depending on the organization, the position being filled, the difficulty of the recruitment process, and other factors, this percentage may change.
While an agency fee may be an extra cost for companies, there are a number of advantages. By handling the screening and interviewing of candidates, for instance, the agency can help the business save time and money while giving them access to a broader pool of suitable applicants than they might otherwise have.
In general, paying an agency fee is a cost-effective way for businesses to rapidly and effectively identify quality individuals, and the investment may end up being well worthwhile.
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FILL IN THE BLANK. When predetermined overhead rates are based on budgeted activity ______.
When predetermined overhead rates are based on budgeted activity they are expected to be used for the entirety of the budget period
What is budget?Budgeting is the process of creating a plan to spend your money. It allows you to create an overall picture of where your money is going, and to make sure that you are spending within your financial means. Budgeting involves tracking your income and expenses, and setting goals for how to spend and save your money. When creating a budget, it is important to account for all of your sources of income and all of your expenses. This includes everything from day-to-day spending, to larger occasional expenses, such as vacations. A budget should be tailored to your individual needs, and should be regularly adjusted as your financial situation changes. Budgeting is an essential tool for managing your finances and can help you reach your financial goals.
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the threat of new entrants is a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry. true or false
Industries with a high risk of new rivals are less appealing because there are low barriers to entry. New rivals may easily enter the sector in order to compete with current companies and take market share.
What is the definition of a market share?Market share refers to a company's share of a particular industry's sales. In essence, it is the share of sales of the products and services provided by your business that contributes to the overall income of the sector. Industry leaders and rivals of smaller businesses are those with a larger market share. Market share is the proportion of a company's operations that make up the total revenue or sales of an industry. For instance, a business that sells 5,000 of the 50,000 units produced annually in a certain industry would have a 10% market share.
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46. some economists have suggested incorporating a measurement of happiness into gpd. identify two specific measurements that could be used to capture happiness in gdp.
Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period.
What is the Gross domestic product (GDP)?Gross domestic product (GDP) is a monetary indicator of the total market value of all the final commodities and services that nations generate and sell over a given period. This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is.
The standard measurement of the value added produced via the production of goods and services in a nation over a specific period is the gross domestic product (GDP). Consequently, it also accounts for the revenue generated by that manufacturing, or the total amount spent on finished goods and services (fewer imports).
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A manufacturing company discovered that their stock turnover for the past three months had been dropping. How might this affect purchasing?.
If a manufacturing company's stock turnover is dropping, it means that the company is selling its products more slowly than it is producing them. This can lead to excess inventory and tie up a significant amount of the company's working capital. In response to this situation, the purchasing department may take several actions, including:
Reducing the amount of raw materials ordered: If the company is producing more products than it is selling, the purchasing department may reduce the amount of raw materials ordered to slow down production and avoid adding to the excess inventory.
Considering alternative suppliers: If the current suppliers are unable to provide the necessary flexibility, pricing or terms, the purchasing department may consider alternative suppliers that are more aligned with the company's current needs.
Overall, a drop in stock turnover can have significant implications for a company's purchasing strategy, requiring the purchasing department to adjust their procurement plans to ensure that they are not accumulating excess inventory and wasting valuable working capital.
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Answer:
The purchasing department will likely buy less items next month.
Explanation:
Just took test
Gwen, Dusan, and Bernard all work for the same large company. Gwen works on getting products to retailers by organizing shipping so the products get there on time. Dusan typically finds the products a customer needs, sells them, and processes orders for customers. Bernard oversees both Gwen and Dusan, making sure they complete their projects on time.
Which best describes the career each individual has?
Gwen is a Logistic Analyst, Dusan is a Merchandise Displayer, and Bernard is a first-line supervisor.
Gwen is a Supply Chain Manager, Dusan is a Marking Clerk, and Bernard is a Public Relations Manager.
Gwen is a Logistician, Dusan is a Stock Clerk, and Bernard is a Marketing Manager.
Gwen is a Distribution Manager, Dusan is a Purchasing Agent, and Bernard is a Purchasing Manager.
Dusan is a merchandise displayer, Gwen works as a logistic analyst, and Bernard is a first-line manager.
Who is Logistic Analyst?Logisticians analyze the activities of the supply chain and then make suggestions for any efficiency enhancements that are required. In logistics, analysts are in charge of computerized billing, tracking, and invoicing. They are entrusted with maintaining the accuracy of the data in logistic databases and identifying opportunities to minimize inventory.
At a manufacturing facility, a first line supervisor is in charge of overseeing the daily activities of operators and production workers. Inspectors, precision workers, machine setters, assembly lines, and fabricators are among the many workers you are in charge of managing.
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Answer:
A. Gwen is a Logistic Analyst, Dusan is a Merchandise Displayer, and Bernard is a first-line supervisor.
Explanation:
...
The shapes of the product life cycle for high-learning, low-learning, fashion, and fad products vary as does __________.
the actual length of time a given product stays in any given stage of the life cycle
Answer:
the actual length of time a given product stays in any given stage of the life cycle.
Explanation:
the type of listing that allows the broker to offer the property at any price greater than the total amount the seller wants is the unit 5 real estate
The type of listing that allows the broker to offer the property at any price greater than the total amount the seller wants is an exclusive right to sell listing.
What is the exclusive right to sell listing ?In an exclusive right to sell listing, the broker has the exclusive right to market and sell the property on behalf of the seller, and is entitled to a commission regardless of who sells the property.
This gives the broker the flexibility to price the property in a way that will attract buyers, and to negotiate the best possible deal for the seller. The broker has a fiduciary responsibility to act in the best interests of the seller, and must use their professional judgment to determine the most effective pricing strategy for the property.
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If sales returns and allowances are a large dollar amount relative to initial sales revenue, it may mean O the shipping terms should be changed to FOB destination O the shipping terms should be changed to FOB shipping point O the discount period is too short O the discount period is too long O there are product quality issues
If sales returns and allowances are a large dollar amount relative to initial sales revenue, it may mean there are product quality issues. Thus, option E is correct.
What is product quality?Product quality describes how well a product meets industry standards, satisfies customer needs, and accomplishes its intended function. Businesses consider a number of important factors when assessing the quality of a product, including whether it solves a problem, functions effectively, or serves the needs of customers.
Companies may also assess a product's quality using a variety of viewpoints that illustrate how various audiences view a product's utility. Customer perspectives, manufacturing perspectives, product- and value-based perspectives, as well as transcendental perspectives—which weigh a product's value in relation to its price—should all be taken into account when evaluating product quality.
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suppose a 20th unit of the good were sold by a seller to a buyer. which of the following statements is correct? group of answer choices for the 20th unit, the difference between the buyer's value and the seller's cost is less than the tax per unit. for the 20th unit, the difference between the buyer's value and the seller's cost is greater than the tax per unit. for the 20th unit, the difference between the buyer's value and the seller's cost is equal to the tax per unit. it makes sense for the buyer to buy and for the seller to sell the 20th unit, with or without the tax in place.
A buyer is defined as someone who buys or has contracted to buy goods in Section 2(1) of the Act. Hence option A is corrrect .
What is Sold goods ?A buyer is one of the parties to the contract because a sale is a contract between two parties. The Act's section 2 defines "seller" (13). A seller is someone who has made a deal to sell something.
The way the tax burden is distributed between purchasers and sellers is known as the tax incidence. The relative price elasticity of supply and demand determines the tax incidence. The majority of the tax burden falls on consumers when supply is more elastic than demand.
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the following is a list of prices for zero-coupon bonds of various maturities. a. calculate the yield to maturity for a bond with a maturity of (i) one year; (ii) two years; (iii) three years; (iv) four years. assume annual coupon payments.
The data based on the given question is given below:
a) i) One year 6.75% =(1000/936.78)-1
What is Yield to Maturity?Yield to maturity (YTM) is the overall rate of return that a bond will have earned once all interest payments are made and the principal is repaid.
In essence, YTM represents the internal rate of return (IRR) on a bond if held to maturity.
The other answers to the given questions are:
ii) Two years 3.89% =(1000/926.47)^(1/2)-1
iii) Three years 6.36% =(1000/831.12)^(1/3)-1
iv) Four years 6.49% =(1000/777.49)^(1/4)-1
b) i)Second year 1.11% =(1+3.89%)^2/(1+6.75%)-1
ii) Third year 11.48% =(1+6.36%)^3/(1+3.89%)^2-1
iii) Fourth year 6.88% =(1+6.49%)^4/(1+6.36%)^3-1
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The date is January 10, 2023 and Maryton Hotels’ CFO George Smith is looking with dismay at his company’s financial performance during 2022. Already facing stiff completion from other hotel changes as well as Airbnb, Maryton had run an operating loss in 2020 and 2021 and had responded by engaging in a broad effort to refresh hotel décor and update wi-fi and other infrastructure. The effort concluded in late 2021 and seemed to be showing success in early 2022. However, a variant of the COVID-19 virus reached pandemic status in mid-2022, and business and leisure travel fell off considerably. Occupancy rates at Maryton properties plunged, producing a $10 million pre-tax net operating loss for 2022. Maryton’s CEO has asked that George “work some of his accounting magic” to “put a positive spin on things” and minimize Maryton’s net loss, hoping to calm the concerns being voiced by investors and lenders.
Required:
1. Assume maryton has a 25% tax rate. Prepared a journal entry that reports the tax effects of its NOL. Assuming that no valuation allowance in necessary and that the CARES Act does not apply. Calculate Maryton’s net income or net loss under that scenario.
2. Repeat requirement 1, but now assume that a valuation allowance in necessary that completely offsets any new deferred tax asset that Maryton is adding as a result of its NOL carryforward.
3. Consider your answers to requirement 1 and 2. What “accounting magic” might Smith work to minimize Maryton’s net loss?
4. Does Smith face an ethical dilemma? If Smith chooses to “put a positive spin on things” and minimize Maryton’s net loss, who could benefit, and who could be injured?
Answer:Accounting treatment of tax,
income tax-2.5 M
profite and loss-2.5 M
deferred tax asset-2.5 M
Profit and loss-2.5 M
ACCOUNTING MAGIC IN THIS SCENARIO TO MINIMIZE THE RISK, THE COMPANY HAVE TO DEFERRED ASSES JUST REASON BEING THE COMPANY SHOULD ADJUST DEFERRED TAX ASSET IN UPCOMING YEARS PROFITS
Explanation:
ACCOUNTING MAGIC IN THIS SCENARIO TO MINIMIZE THE RISK, THE COMPANY HAVE TO DEFERRED ASSES JUST REASON BEING THE COMPANY SHOULD ADJUST DEFERRED TAX ASSET IN UPCOMING YEARS PROFITS
a woman experienced a tax audit. the tax department claimed that the woman was audited because she was randomly selected from all women in her tax bracket Which type of sampling did tax payers use ?
Based on the given information, The sampling did taxpayers use is simple random sampling.
What is simple random sampling?The process of sampling data in which a participant is randomly selected in order to perform the research or activity is referred to as simple random sampling where there is an equal probability of selection of every variable.
In the provided situation, it is explained that a woman suffered a tax audit. the tax authority said that the woman was audited because she was randomly selected among all women in her tax bracket signifies the features of Simple random sampling.
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Briefly explain whether production of each of the following goods is likely to fluctuate more or less than real GDP does during the business cycle:
a. Ford F-150 trucks
b. McDonald’s Big Macs
c. Whirlpool washing machines
d. Huggies diapers
e. Boeing passenger aircraft
Ford F-150 trucks are likely to fluctuate more than real GDP during the business cycle because of technology shocks. The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
What are the other goods that fluctuate the real GDP?A McDonald's Big Mac is likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Whirlpool washing machines are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment. Huggies diapers are likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Boeing passenger aircraft are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
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One of the primary jobs of a project manager is to manage the trade-offs among time, cost and performance. To do so, the project manager must define and understand the ______ of the project.
a. requirements b. communications plan c. WBS d. project charter e. priorities
One of the primary jobs of a project manager is to manage the trade-offs between time, cost, and performance. To do so, the project manager must define and understand the priorities of the project.
What is the project manager's principal responsibility?
The person in charge of finishing the project is the project manager. With permission and accountability from the project plan, the person is in charge of leading and managing the project team and is responsible for carrying out day-to-day project operations.
The management of time, money, and performance trade-offs are one of a project manager's main responsibilities. The project manager needs to know what the project's priorities are in order to do this.
Therefore, The least favored option must be abandoned when making a trade-off decision.
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Which of the following would be considered as primarily a merchandising business?
1. West Consulting
2. KPM Accounting and Tax Service
3. Sandridge and Associates Law Offices
4. Martin’s Supermarket
Martin’s Supermarket would be considered as primarily a merchandising business.
What is a merchandising business?
Businesses engaged in merchandising are those that purchase goods and then resell them to customers, whether online or in physical stores. Businesses that deal in merchandise focus on products rather than services. A company is not a merchandising firm if it just provides services.
A company that buys finished goods and resells them to customers is known as a merchandiser. Think about your neighbourhood supermarket or clothes retailer. These two businesses deal in merchandise.
Clothing stores, grocery stores, booksellers, retail stores, and other establishments that sell things to customers are typical examples of merchandising enterprises.
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Fill in the blank: When creating a work breakdown structure (WBS), a project manager should focus on _____ rather than actions.
a. deliverables
b. stakeholder needs
c. timeline
d. teammate strengths
When creating a work breakdown structure (WBS), a project manager should focus on deliverables rather than actions.
What is the work breakdown structureThe work breakdown structure (WBS) is a hierarchical decomposition of a project into smaller, more manageable components or tasks. It is a tool used by project managers to organize and structure the work required to complete a project.
The WBS breaks down the project work into smaller, more manageable parts, which are then grouped into deliverables, work packages, and tasks. Each level of the hierarchy represents a more detailed and specific level of work, and each component is typically assigned to a specific team member or group.
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