Answer:
$0
Explanation:
Generally speaking, military housing allowances, subsistence allowances, overseas housing allowances and family separation allowances are not included in gross income. They are not taxed by the federal or state governments. Military personnel are not relocated based on the country's national security needs, not their own personal needs.
If the moving expenses exceed the amount given to them by the Air Force, the extra amount is generally tax deductible.
Answer:
TRUE
Explanation:
acceptance of a contract becomes effective, regardless of the medium of sending and receiving the information.
Answer:
E. If the interest rate the companies pay on their debt is more than their basic earning power (BEP), then Company Heidee will have the higher ROE.
Explanation:
Base on the scenario been described in the question, we saw that between the two companies, Heidee and Leaudy, they both have the same total assets, sales, operating costs, and tax rates, and they pay the same interest rate on their debt but company Heidee has a higher debt ratio, this will make company Heidee has a higher ROE because of its higher ratio of debt
Answer:
Creative Sound Systems should report $18,800,000 as net cash flows from financing activities
Explanation:
Cash flow Financing activities are the funds that the business acquire or paid to finance its main activities, these involve borrowing and repaying short-term loans, long-term loans and other long-term liabilities.
From the question, Cash inflow from Issue of common share and Cash outflow from purchase of treasury stock are the only recognizable Financing activities
Particulars Amount
Cash inflow from Issue of common share $39,600,000
Cash outflow from purchase of treasury stock -$20,800,000
Net cash flows from financing activities $18,800,000
Answer:
D. The auditors cannot form an opinion on the fairness of presentation of the financial statements as a whole.
Explanation:
The issue of a disclaimer of opinion normally represent that the auditor could not able to form the opinion on the fairness of the financial statements that shows the financial position and the condition of the company.
He is not able to give his opinion for the company financial statements
So, the last option would be correct
And, the rest of the options would be incorrect