If a firm uses accelerated depreciation for tax purposes and straight-line depreciation for financial reporting, which of the following results is least likely?
A) Income tax expense will be greater than taxes payable.
B) A temporary difference will result between tax and financial reporting.
C) A permanent difference will result between tax and financial reporting.
Answers
If a firm uses accelerated depreciation for tax purposes and straight-line depreciation for financial reporting, the least likely result is option C) A permanent difference will result between tax and financial reporting.
Accelerated depreciation allows a company to deduct a higher amount of depreciation expense in the earlier years of an asset's useful life, resulting in lower taxable income and lower taxes payable. On the other hand, straight-line depreciation allocates the same amount of depreciation expense evenly over the asset's useful life, which may result in higher taxable income and taxes payable.
Option A states that income tax expense will be greater than taxes payable. This is a likely result because income tax expense is based on the company's financial reporting income, which may be higher due to straight-line depreciation. Taxes payable, on the other hand, are based on the company's taxable income, which may be lower due to accelerated depreciation.
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The least likely result when a firm uses accelerated depreciation for tax purposes and straight-line depreciation for financial reporting is option C) A permanent difference will result between tax and financial reporting.
The use of different depreciation methods for tax purposes and financial reporting can lead to differences in income tax expense and taxes payable. Here is an explanation of each of the options and the likelihood of their occurrence:
A) Income tax expense will be greater than taxes payable: This option is likely to occur when a firm uses accelerated depreciation for tax purposes. Accelerated depreciation allows for higher depreciation expense in the early years of an asset's life, reducing taxable income and taxes payable.
B) A temporary difference will result between tax and financial reporting: This option is highly likely to occur when different depreciation methods are used. Temporary differences arise when the recognition of income or expenses for tax purposes differs from their recognition for financial reporting.
C) A permanent difference will result between tax and financial reporting: This option is unlikely to occur when different depreciation methods are used. Permanent differences arise when the recognition of income or expenses for tax purposes differs from their recognition for financial reporting and will never reverse.
The correct option is option C) A permanent difference will result between tax and financial reporting.
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Related Questions
Your plan projects revenue of $5,000, $8,000, and $10,000 in years 1 through 3. Expenses are projected to be $9,000 for each of years 1 through 3. If your only funding need is the gap between revenue and expenses, which is the best estimate of your maximum cumulative funding need?
a) $0
b) $1,000
c) $4,000
d) $50,000
Answers
Answer:
c) $4,000
Explanation:
The only funding needed is the difference between revenue and expense.
For year 1: funding required is $9,000 -$5000 = $4000
For year 2: funding required is$ 9,000 - $8000 = $1000
For year 3: funding required is $9000 -$10,000 = -$1000
cumulative funding = $4000, + $1000 + (-$1000)
=$5000 - $1000
=$4000
When can cool product
be combined with other cool product
Answers
Answer:
In what ways are COOL commodities covered? COOL information must be provided at the point of sale for covered commodities. We offer fresh and frozen fruits and vegetables; wild & farm-raised fish and shellfish; muscle cut and ground chicken, lamb, and goat meat; raw peanuts, pecans, and macadamia nuts; and ginseng.
Please give brainliest, really appreciated.
The consumer price index is
Answers
Another simple definition could be…
consumer price index (CPI) is a measure of the average change in prices over time in a fixed market basket of good and services
Why might an employee complain to their employer?
Answers
A 3rd degree burn has burnt only part of the epidermis. the epidermis only. the epidermis and dermis. the epidermis and part of the dermis.
Answers
A 3rd degree burn has burnt the epidermis and part of the dermis. Option 3 is the correct answer.
A 3rd degree burn is a severe burn that extends through the entire thickness of the skin. In a 3rd degree burn, the epidermis, which is the outermost layer of the skin, and part of the dermis, which is the layer beneath the epidermis, are affected. This type of burn destroys the full thickness of the epidermis and can extend into the deeper layers of the dermis.
The epidermis serves as a protective barrier for the body, preventing the entry of harmful substances and pathogens. It also helps regulate body temperature and plays a role in the production of vitamin D. The dermis provides structural support, contains blood vessels, nerve endings, sweat glands, and hair follicles.
Due to the severity of the injury, 3rd degree burns often require medical intervention and specialized treatment. They can result in extensive tissue damage, loss of sensation, and impaired healing. Treatment may involve surgical interventions, such as skin grafting, to promote healing and minimize the risk of infection. Rehabilitation and long-term care are often necessary to manage the physical and psychological effects of a 3rd degree burn.
Hence, option 3 is the right choice.
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A(n) _____ error occurs when the supervisor bases judgments on employee performance that is fresh in his or her mind.
Answers
A recency error occurs when the supervisor bases judgments on employee performance that is fresh in his or her mind.
Recency ErrorRecency error is the rater's tendency to allow more recent incidents (either effective or ineffective) of employee behavior to carry too much weight in evaluation of performance over an entire rating period. This can be extreme on both ends of the spectrum.
Therefore, the recency error could make the supervisor judge as such.
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What are the remedial measures of unemployment in nepal?explain
Answers
How to calculate momentum?
Answers
Answer:
p=mv
Explanation:
the formula for momentum is
p=mv
Answer:
By multiplying mass and velocity
Explanation:
What is the organizational structure for an supermarket?
Answers
Answer:
An array of repeat customers grouped in various local areas, A chain of retail stores, various transportation systems, A set of warehouse distribution centers, and An array of product suppliers under contract.
Explanation: In carrying out its function, a supermarket business acquires and assembles a wide assortment of goods from individual suppliers, then organizes and distributes them as-needed to a chain of retail stores for sale to local customers.
Please help. Atleast the top 2
Answers
Answer:
Number 1 is Pure Market. Number two is socialist, I'm pretty sure.
Explanation:
Please mark me brainliest if someone else answers :>
Project: How Entrepreneurs Improve the Economy
This project will focus on researching different ways that entrepreneurs improve the economy. You will then explore these ways and
explain whether you agree or disagree with how each can improve the economy.
During this project, you'll accomplish the following:
O Objectives
• Research at least five ways that entrepreneurs improve the economy and explain whether you agree or disagree with each.
Directions
Use the Internet to research different ways that entrepreneurs improve the economy. You will need to have at least five ways. Be sure
to include the URL links you used as resources in the space below.
Now that you have completed the research, record your findings in the table below and include the links,
1 Fillin five ways that entrepreneurs improve the economy
Answers
Answer:
time management
make best decision
saving the budget
having ideas
never relaxed
on january 1, year 1, weller company issued bonds with a $415,000 face value, a stated rate of interest of 10%, and a 10-year term to maturity. weller uses the effective interest method to amortize bond discounts and premiums. the market rate of interest on the date of issuance was 8%. interest is paid annually on december 31. assuming weller issued the bond for $434,940, what is the amount of interest expense that will be recognized during year 3? (round your intermediate calculations and final answer to the nearest whole dollar amount.) multiple choice $49,320 $20,750 $33,680 $34,259
Answers
The amount of interest expense that will be recognized during year 3 is $34,259 Option (D)
To calculate the interest expense recognized during year 3, we need to determine the carrying value of the bond at the beginning of year 3 and multiply it by the effective interest rate.
The carrying value of the bond at the beginning of year 3 can be calculated by subtracting the accumulated amortization from the initial bond issuance price.
Initial bond issuance price: $434,940
Discount on bonds payable (face value - issuance price): $415,000 - $434,940 = -$19,940
Using the effective interest method, the discount is amortized over the term of the bond. Since the bond has a 10-year term, the annual amortization can be calculated as follows:
Annual amortization = Discount / Term
Annual amortization = -$19,940 / 10 = -$1,994 (rounded to the nearest whole dollar)
To determine the carrying value at the beginning of year 3, we subtract the accumulated amortization from the initial bond issuance price:
Carrying value at the beginning of year 3 = Initial bond issuance price + Accumulated amortization
Carrying value at the beginning of year 3 = $434,940 + ($1,994 x 2) = $438,928
Finally, to calculate the interest expense during year 3, we multiply the carrying value at the beginning of year 3 by the effective interest rate of 8%:
Interest expense during year 3 = Carrying value at the beginning of year 3 x Effective interest rate
Interest expense during year 3 = $438,928 x 8% = $34,259 (rounded to the nearest whole dollar)
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Explain what a trade war is
Answers
Answer: A trade war happens when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports.
Explanation:
Hospitals, colleges and universities, and museums fall into the ______ category of business customers.
Answers
Hospitals, colleges and universities, and museums fall into the institutional customers category of business customers.
What are Institutional customers?Institutional customers are organizations that provide goods and services to others and are characterized by their relatively stable and predictable demand for products, as well as their relatively large order size.
These customers often have specific needs and requirements, such as compliance with regulations, safety standards, and other policies. They may also have longer purchasing cycles and decision-making processes, as well as complex procurement procedures and negotiations. Other examples of institutional customers include government agencies, non-profit organizations, and religious institutions.
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Which of the following are clichés?
Answers
Answer:
2nd scentence
Explanation:
Quick as a flash
Easier said than done
First and foremost
What effects does scarcity of economic resources have on choices?
Answers
Under what circumstance would a country have a comparative advantage in
the production of a certain good?
A. It has a lower opportunity cost for production of that good.
B. It has a more highly skilled work force.
C. It has well-developed industrial capacities.
D. It uses an assembly line to produce that good.
Ap3x
Answers
Answer: [A] It has a lower opportunity cost for production of that good.
Explanation: It has a lower opportunity cost for production of that good. Comparative advantage comes when a country gives up less than others to engage in a particular type of production.
Answer:
It has a lower opportunity cost for production of that good.
Explanation:
Drive-Ins borrowed money by issuing $ 2 comma 500 comma 000 of 8 % bonds payable at 96.5. Interest is paid semiannually. Requirements 1. How much cash did Sonic receive when it issued the bonds payable? 2. How much must Sonic pay back at maturity? 3. How much cash interest will Sonic pay each six months? Requirement 1. How much cash did Sonic receive when it issued the bonds payable?
Answers
Answer:
I don't think he got any back
Explanation:
The money could have been a tip.
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as Group of answer choices
Answers
Answer:
A signature.
Explanation:
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as signature.
Larry is part of the Board of Governors that manages U.S. Monetary policy. He has been elected by the President to serve a single 14-year term. In addition to setting the monetary policy, he is responsible for extending banking services to commercial banks. I
Answers
Answer:
Federal Reserve
Explanation:
Federal Reserve System is the financial institution and the central bank of the U.S. The institution provides financial aid to the country. It helps in regulating and maintaining the financial and banking service of the country. All the requirements and responsibilities of the Federal Reserve are laid on the Board of Governors. They help in setting the rate of the discount and rate of interest on the loans.
In the given excerpt, Larry is the part of the Board of Governors in the Federal Reserve System.
SOLVE THE GRAPH AND THE SUPPLY OR SHORTAGE AND THE PRESSURE OF PRICE
Answers
Answer:
probably cant figure it out
Explanation:
Every week Jerome works 40 hours. On Fridays, he receives his paycheck. What type of income does Jerome earn?
A. unemployment income
B. earned income
C. investment income
D. passive income
Answers
Answer:
B. Earned Income.
Explanation:
Answer:
eared income
Explanation:
The website leftyslefthand. Com markets products to left-handed consumers only. Which targeting strategy does this represent?.
Answers
The website leftyslefthand. Com markets products to left-handed consumers only Concentrated marketing targeting strategy does this represent.
An individual or group that does not directly engage in entrepreneurial or business operations but who intends to order or uses purchased items, products, or services primarily for personal, social, family, or household needs is referred to as a consumers. A consumers purchases goods or services primarily for personal use in an economy rather than for resale or other business objectives. Customers make a financial (or comparable) payment for goods or services. Marketing is the process of identifying, producing, and providing value to satisfy a target market's wants for goods and services. Marketing is normally carried out by the seller, who is usually a retailer or manufacturer. A specialized marketing company or advertising agency may be hired on occasion to complete responsibilities.
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Which of the following is not an example of professional behavior
?
Answers
By creating cool, comfortable stores that invite customers to socialize, Red Mango increased the ______ of its market offerings.
Answers
By creating cool, comfortable stores that invite customers to socialize, Red Mango increased the value of its market offerings.
A marketing offering is a good or service that a business offers to clients to satisfy their requirements. A product or service is only one aspect of an offering. It covers the added value that a company provides in the form of convenience, superiority, and support for its products.
PRODUCT AVAILABILITY represents what the market is externally presented with for usage by the market. A reusable PRODUCT SPECIFICATION can be used to create a PRODUCT OFFERING (sometimes referred to as "product spec").
Convenience market offerings, Shopping market offerings, specialty market offerings, and Unsought market offerings are the types of market offerings in the market.
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Your building plan for your restaurant includes 4 bathrooms - 2 women’s and 2 men’s. The city inspector informs you , that you must have at least 400 square feet per bathroom. If your building is a total of 8,000 square feet, how many square feet are left for the development of other , non bathroom areas?
A) 4,000 square feet
B) 4,800 square feet
C) 6,400 square feet
D) 8,000 square feet
Answers
Answer:
C) 6,400 square feet
Explanation:
Each bathroom requires at least 400 square feet. There are four bathrooms.
In total, the four bathrooms will need 400 square feet multiplied by four.
= 400 square feet x 4
=1600 square feet
The space left for other developments
=total space - bathroom space
=8000 square feet - 1600 square feet
=6400 square feet
a price floor is a.a legal minimum on the price at which a good can be sold. b.a legal maximum on the price at which a good can be sold. c.a source of efficiency in a market. d.often imposed when buyers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.
Answers
The floor price is the legal lowest price at which the item can be sold.
To be binding, we need to set a price floor higher than the equilibrium price. Economic equilibrium in economics is a situation in which economic forces such as demand and supply are balanced, and the values of economic variables do not change unless external influences change.
The equilibrium price, also known as the liquidation price, is the consumer cost resulting from a product or service for which demand and supply are equal or nearly equal. At equilibrium prices, the supply of goods equals the demand. When a major index goes through a period of correction or flattening, supply and demand forces are relatively equal and the market is in equilibrium. to learn
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Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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to avoid trade restrictions, a u.s. firm moves its final production process to ireland and then ships the final products to the united kingdom. this is an example of
Answers
To avoid trade restrictions, a U.S. firm moves its final production process to Ireland and then ships the final products to the United Kingdom. This is an example of a business strategy called "tariff jumping" or "offshore assembly."
Tariff jumping, also known as offshore assembly, is a strategic approach that companies use to bypass trade barriers and reduce their overall cost of production. By relocating the final production process to a country with more favorable trade policies, the U.S. firm can avoid the higher tariffs and trade restrictions it would have faced if it had exported the products directly from the United States to the United Kingdom.
This move can result in cost savings, increased competitiveness, and better market access for the firm. It is important to note that such strategies may have other implications for the company, such as increased transportation costs, different regulatory environments, and potential impact on the firm's reputation.
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Caitlyn has worked in HR for Clearwater Electronics for more than 20 years. She has found that many employees are now more concerned with working in an environment where they can grow personally than with their level of compensation. How can Caitlyn and the HR department best provide opportunities for their employees to grow?
Answers
Answer:
A) HR can provide training and development activities to help employees improve.
Explanation:
In a work environment where employees prioritize personal growth, it is necessary for the human resources department to implement training and development strategies for employees.
The focus on training and organizational development allows companies to develop diagnoses, discover the potential of employees, correct errors, reorganize the work according to the potential of each employee, etc., which makes the work more satisfying, more productive because it motivates and increase employee satisfaction, in addition to being essential for the development of creativity, innovation and differentiated skills.
The best way that Caitlyn and the HR can best provide opportunities for their employees to grow is through the provision of training and development activities to help employees improve.
This question obviously tells us that the employees are less concerned about the pay they receive compared to the growth that they can attain personally.
A way that would help them to attain the growth in their job is through trainings and other development activities.
These would help them to learn new skills and also get better at their jobs.
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