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10 months ago

The two functions of financial accounting are to measure business activities and prepare tax returns. True or false

Business

1 answer:

Schach [20]10 months ago

6 0

The two functions of financial accounting are to measure business activities and prepare tax returns. FALSE

<h3>What is a Tax return?</h3>

A tax return is a document submitted to a taxing body that lists earnings, outlays, and other pertinent financial data.
Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
Tax returns must typically be filed yearly.
In the United States, tax returns including data necessary to compute taxes are filed with the Internal Revenue Service (IRS) or with the state or local tax collecting agency (Massachusetts Department of Revenue, for instance).
The IRS or another applicable authority's forms are often used to complete tax returns.

To learn more about Tax return, refer to the following link:

brainly.com/question/27300507

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A certificate of deposit offers a nominal interest rate of 3.5 percent annually.

Snezhnost [94]

I’m pretty sure the answer is c

4 0

2 years ago

Cason is filing as single and has 2019 taxable income of $36,000 which includes $34,000 0%/ 15 % / 20% net long-term MID capital

AleksandrR [38]

Answer:

The correct answer of this question is b-200$.

Explanation:

As per tax schedule if income from capital gain is less than 39,375$ 0% tax is charge lieved.

So on his income from capital gain that is 34,000 dollars no tax will be charge. However the remaining income is subject to income tax that is (36000-34000)= 2000 dollars. So Cason is liable to pay tax equals to 200$. (2000*10%)

As per tax law whose income is less than 9,750 dolars is liable to pay tax at the rate of 10%.

5 0

2 years ago

Label each scenario with the term that best describes it. Use the midpoint method when applicable. Marcel Duchamp was a famous a

Masteriza [31]

Answer:

Paul Donut Franchisee : Perfectly Elastic Supply
P & G Facial Tissues : Elastic Supply
Papermate Pens : Inelastic Supply
Bright Ideas Lightbulbs : Perfectly Inelastic Supply

Explanation:

Price Elasticity of Supply is sellers' quantity supplied response to price change. P(Es) = % change in supply / % change in price.

Supply can be classified by Price Elasticity of Supply, as undermentioned :

Elastic Supply : P(Es) > 1 ; % change in supply > % change in price
Inelastic Supply : P(Es) < 1 ; % change in supply < % change in price
Unitary Elastic : P (Es) = 1 ; % change in supply = % change in price
Perfectly Elastic Supply : P(Es) = ∞ ; Supply responds infinitely to any slight price change & so prices are constant.
Perfectly Elastic Supply : P (Es) = 0 ; Supply responds negligibly to massive price change & so quantity supplied is constant

Paul Donut Franchise : Unlimited Supply at constant price, so supply perfectly elastic
P & G facial tissues : % change in supply i.e 66% > % change in price i.e 10% , so supply is elastic
Papermate pens : % change in supply i.e 10 % < % change in price i.e 15% , so supply is inelastic
Bright Ideas Lightbulbs : % change in supply 15% negligible in relation to 400% price change , so supply is perfectly inelastic

6 0

2 years ago

Suppose an industry has 100 firms, each with a supply curve P = 50 + 10Q . Furthermore, suppose the market demand curve is given

elena-14-01-66 [18.8K]

Answer: See explanation

Explanation:

The industry supply curve will be the supply curve given multiplied by the total number of firms. This will be:

P = 50 + 0.1Q

Check: since Q = 100

P = 50 + 10/100Q

P = 50 + 0.1Q

To get the Equilibrium price and quantity, we've to equate the market demand curve and supply. This will be:

Market demand = P = 200 - 0.9Q

Market Supply = P = 50 + 0.1Q

Therefore,

200 - 0.9Q = 50 + 0.1Q

200 - 50 = 0.1Q + 0.9Q

150 = Q

Equilibrium quantity = 150 units

Since P = 50 + 0.1Q

P = 50 + 0.1(150)

P = 50 + 15

P = 65

Equilibrium price is 65.

The units of output that will be produced by a firm operating in this market with a marginal cost function, MC = 130Q will be 2.

8 0

2 years ago

transferable skills necessary for successful employment include a:basic skills b:thinking skills c:personal quality d: all of th

Ymorist [56]

The correct answer is D. All of the above

Explanation:

Skills that can be used in multiple jobs or contexts are known as transferable skills. This category of skill covers many types of skills including basic skills such as teamwork, communication or problem-solving; personal quality skills such as honesty, empathy, or ethics; and thinking skills such as making decisions or organizing information. Moreover, these are all transferable skills because it is likely an individual requires these skills despite his profession or role. For example, both a doctor and a secretary might face challenges that require them to make decisions (thinking skill), use ethics to make the best decision (personal quality), and communicate this decision to others (basic skill.)

5 0

3 years ago