which of the following are common sources of cost recovery book/tax differences? (select all that apply.) multiple select question. macrs depreciation unearned revenue goodwill amortization municipal bond interest income
Answers
The common sources of cost recovery book/tax differences are MACRS depreciation, Unearned revenue, Goodwill amortization, and Municipal bond interest income. These terms were used in the question for the answer to be easily identified.
The following are the common sources of cost recovery book/tax differences:
MACRS depreciation
Unearned revenue
Goodwill amortization
Municipal bond interest income.
The term "cost recovery" refers to the recovery of the cost of property or assets over their useful life through depreciation, amortization, or depletion expenses. The cost recovery book/tax difference occurs when the book and tax basis for cost recovery differs for financial reporting and tax purposes.
The common sources of cost recovery book/tax differences are as follows:
MACRS depreciation: The Modified Accelerated Cost Recovery System (MACRS) is a depreciation method that allows taxpayers to recover their costs over a predetermined period by taking a deduction for depreciation on their tax returns. The book and tax basis for MACRS depreciation may differ, resulting in a book/tax cost recovery difference.
Unearned revenue: It refers to the advance payments made by customers or clients for products or services that have not yet been delivered. For tax purposes, unearned revenue is considered taxable income in the year it was received. However, for financial reporting purposes, unearned revenue is recognized as a liability until the products or services have been delivered.
Goodwill amortization: Goodwill is the intangible asset of a company that is attributable to the value of its brand reputation, customer base, or other factors that contribute to its ability to generate revenue. For financial reporting purposes, goodwill is amortized over a specific period, while for tax purposes, it is not amortized. Therefore, a book/tax cost recovery difference occurs.
Municipal bond interest income: Municipal bond interest income is exempt from federal taxation but may be subject to state and local taxes. For financial reporting purposes, the interest income is recognized when it is earned, while for tax purposes, it is recognized when it is received. As a result, there may be a book/tax cost recovery difference.
Learn more about Modified Accelerated Cost Recovery System (MACRS): https://brainly.com/question/29220994
#SPJ11
Related Questions
Drag the steps for making a decision to order them from first to last.
select the best option
evaluate the decision
fallow through
identify a decision
list the concesquences
list all possible options
Answers
Answer:
list options, identify a decison , list concequences, evaluate the decison, follow through
Explanation:
Steps of making a decision:
identify a decision, list the concesquences, list all possible options, evaluate the decision and then fallow through.
Making wise decisions entails what?A wise decision-maker selects options that will benefit both themselves and other people. They don't allow their personal biases to influence their decision-making and approach it with an open mind. After carefully weighing their options and considering the repercussions, they make sensible decisions.
Why is decision-making crucial?People are affected by our decisions. Almost every choice we make has an impact on several individuals in one way or another. Understanding the "human cost" of our actions and the impact they will have on others is crucial. Our ideals are manifested in the choices we make.
Decision-making is influenced by what?Decision-making is impacted by a number of significant elements. Past experiences, a range of cognitive biases, an increase in commitment and sunk costs, individual characteristics, such as age and socioeconomic status, and a sense of personal relevance are all important considerations.
To know more about making a decision visit:
https://brainly.com/question/13244895
#SPJ2
1) which of the following would an economist classify as capital? A) a $100 travelerâs check B) a new deposit of natural gas C) a government savings bond D) a police car 2) the discovery of new natural resources will cause A) the production possibilities curve to shift up and to the right B) the curve to shift back and to the left C) an upward movement along the curve D) the economy to move closer to the production possibilities curve 3) all of the following would cause the production possibilities curve to shift outward EXCEPT: A) a decline in the unemployment rate B) an increase in the level of capital stock C) an improvement in technology D) an increase in the amount of labor available
Answers
The correct option is d. a lawyer's personal computer. Any compact, reasonably priced computer made for a single user to use at home or in an office has employed this microprocessor technology.
A laptop computer, which manufacturers sometimes occasionally refer to as a notebook computer, is a battery- or AC-powered personal computer that is typically smaller than a briefcase and designed to be taken and used in transitory settings like aircraft, libraries, temporary workplaces, and meetings. In a broader sense, a personal computer (PC) is a microprocessor created for solitary user interaction. Before the PC, computers were made for (and only affordable by) businesses that connected terminals for numerous users to a single, powerful computer that all users shared. Tablets, laptops, and other devices are available. A laptop has a keyboard and is portable. A tablet is a little gadget that frequently has just a software keyboard. A desktop computer is a larger computer that is placed on a desk.
Learn more about personal computer here
https://brainly.com/question/14375324
#SPJ4
The five management goals outlined by Peter Drucker do not include
A) staffing the organization.
B) motivating and communicating.
C) setting goals.
D) developing people.
E) measuring performance.
Answers
The five management goals outlined by Peter Drucker do not include staffing the organization. So, the correct answer is option A.
Setting objectives, focusing on the most crucial tasks, organizing and inspiring the workforce, tracking performance, and developing employees are Drucker's five management objectives.
Although staffing the organization is crucial to achieving these objectives, it is not a goal in and of itself.
Organizations must fill the proper positions with the right people in order to set objectives. The workforce frequently has to perform the most crucial tasks when it comes to focusing on those tasks.
Organizations require the right people in the right places to motivate and organise their workforce. Although it is not always the same as staffing them, measuring performance frequently entails input from people within the organization.
In conclusion, staffing an organization includes developing its human resources, but this is distinct from merely hiring employees.
To learn more about workforce visit:
https://brainly.com/question/29635382
#SPJ4
explain advertisement
Answers
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
Insurance companies negotiate discounts with hospitals under a(n)
Answers
Insurance companies negotiate discounts with hospitals under a(n): Preferred provider organization (PPO).
What is insurance company?Insurance company is an a company that help to provide coverage for their policy holder in case of unforeseen or unexpected circumstance such as:
TheftAccident etcPreferred provider organization is a medical health plan that enter into a contract agreement with health care service providers so as to provide health care to people under the plan.
Therefore Insurance companies negotiate discounts with hospitals under a(n): Preferred provider organization.
Learn more about insurance company here:https://brainly.com/question/25855858
#SPJ1
Question #1
Which of these products is a service?
O Pet food
O Veterinary care
O Grooming brush
O Medication for a pet
Answers
Name the one sport in which neither the spectators nor the participants know the score or
the leader until the contest ends.
Answers
Answer:
Boxing
Explanation:
Question 3 of 10
Why do many banks consider student loans risky investments?
A. Student loans have long grace periods.
B. Student loans bring in a low rate of interest.
C. Student loans are regulated by the government.
D. Student loans aren't secured by collateral.
SUBMIT
Answers
Student loans aren’t secured by collateral
Monsanto sells genetically modified seed to farmers. It needs to decide how much seed to put into a warehouse to serve demand for the next growing season. It will make one quantity decision. It costs Montanso $8 to make each kilogram (kilogram) of seed. It sells each kilogram for $45. If it has more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, it only earns $3 per kilogram from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds its quantity, then the sales are lost—the farmers go to another supplier. As a forecast for demand, it will use a normal distribution with a mean of 300,000 and a standard deviation of 100,000. Use Table 13.4.
Answers
Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
The costs Montanso = $8
Selling price = $45
Overseas market price = $3 per kilogram
Mean = 300,000
Standard deviation = 100,000
The profit function is given by:
Profit = Revenue - Cost
Profit = (Price sold x Quantity sold) - (Cost x Quantity produced)
Expected Profit = P(Demand < Q) * Profit when demand is less than Q + P(Demand >= Q) * Profit when demand is greater than Q
Expected Profit = P(Z < (Q-300,000)/100,000) * ((45 * min(Q, 300,000)) - (8 * Q)) + P(Z >= (Q-300,000)/100,000) * ((45 * Q) + (3 * max(0, (300,000-Q))))
Expected Profit = (45 - 8) * P(Z < (Q-300,000)/100,000) - (45 - 3) * P(Z >= (Q-300,000)/100,000) = 0
37 * P(Z < (Q-300,000)/100,000) = 42 * P(Z >= (Q-300,000)/100,000)
P(Z < (Q-300,000)/100,000) = 42/79
(Q - 300,000)/100,000 = 0.44
Quantity = 344,000 kilograms
Therefore, we can conclude that Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
To learn more about expected profits,
https://brainly.com/question/30791319
#SPJ4
Although abels manufacturing has facilities in several countries, management decisions that have company-wide implications are made within the home country. Abels manufacturing would be described as a ________.
Answers
Although abels manufacturing has facilities in several countries. Abels manufacturing would be described as a global company.
A global corporation is a company that operates internationally but keeps management and other decision-making local to the home country. The term "global" denotes the entire world, yet a global corporation is not required to operate globally. It is a company that conducts business in at least one country other than its own. There are many categories depending on their vast size, wide range of products, technical developments, marketing techniques, and extensive worldwide network of activities.
Global firms have a network of subsidiaries spread across many different countries that they use to extend their marketing and production activities. Their objective is to labour across several international boundaries and earn income in numerous different national currencies.
Learn more about Global corporation, here
https://brainly.com/question/28477924
#SPJ4
Smithfield meats produces pork products including hams, bacon, and does so through its own hog farms. this is an example of a business that is ____________.
Answers
Smithfield meats produces pork products including hams, bacon, and does so through its own hog farms. this is an example of a business that is "vertically integrated."
Smithfield Meats is an example of a vertically integrated business.\
Vertical integration refers to the combination of different stages of the production process within a single company or organization. In the case of Smithfield Meats, the company is involved in all aspects of the pork production process, from raising hogs on its own farms to processing the meat and distributing it to retailers and consumers.
By controlling the various stages of production, Smithfield Meats can ensure the quality and consistency of its products, streamline its operations, and potentially reduce costs. However, vertical integration can also pose risks if one aspect of the business is not performing well or if there are disruptions in the supply chain.
For more such questions on Vertical integration
https://brainly.com/question/19815172
#SPJ4
you can easily carry money in a pocket or purse. this reflects what characteristic of money?
Answers
Easily carrying money in a pocket or purse reflects the portability characteristics of money
A trading product that is often used as a medium for economic communication is money. It serves as the medium for expressing values and pricing. It is the debt measure of wealth and travels from person to person and country to country through trade. In written transactions involving the exchange of products from one person to another, money is any good that is frequently used and acknowledged.
Money's mobility or portability is demonstrated by how simple it is to carry it in a pocket or handbag. Money's portability, which is a crucial quality that makes it easier to use as a medium of exchange in transactions, is defined as how easily it can be moved from one location to another.
Read more about money on:
https://brainly.com/question/24373500
#SPJ4
From what you have learned, describe the role of buyers and sellers in determining market clearing price. Provide "real life" scenarios and examples.
Answers
Answer:
Buyers try to minimize what they spend by buying at the lowest price and not purchasing if the price is too high. Because of this we have the law of demand in which quantity demanded decreases as price increases. On the other hand, sellers try to maximize their earnings by increasing quantity supplied as high as price allows (the law of supply states that as price increases, so does quantity supplied). The price in which the two parties compromise is the market clearance price.
Now lets look at the price of bubble gum, an elastic good. When sellers list this product at a higher price they are more willing to supply more products to their buyers. Buyers however will respond to an increase in price with a decrease of bubble gum purchases. These two counteracting parties set a limit on the price of gum and the quantity supplied. This illustrates the concept of the invisible hand driving the market to find the clearance price, or equilibrium, of bubblegum.
give short introduction about tourism industry
Answers
Answer:
Tourism industry is the industry that manages all the resources related to the tourism like hotel management, guides and many more. Tourism industry is very beneficial for the developing countries like Nepal, India and many more. Through it there will be economic development in the country. And from the economical development the citizens of the country can get facilities.
Answer:
Explanation: Tourism is the activities of people traveling to and staying in places outside their usual environment for leisure, business or other purposes for not more than one consecutive year.1.Domestic Tourism -Domestic tourism is the act of travelling for business or leisure within one’s home country2.International tourism-International tourisminvolves tourist who are traveling to different countries.
Which of the following is not true of an effective accounting system?
a. The system must accommodate changes in the business over time.
b. The system must provide minimal benefits at whatever cost is necessary.
c. The system must work smoothly with your personnel and organizational structure.
d. The system has internal controls to help the owner(s) control the business.
Answers
Among the following options, the statement that is not true of an effective accounting system is "The system must provide minimal benefits at whatever cost is necessary." Option B.
An accounting system is an important component of a business since it aids in tracking all financial transactions and assists in making informed financial judgments. As a result, an effective accounting system is critical in order for the company to work properly. An accounting system that is effective should have the following characteristics:
It must be able to accommodate changes in the business over time. It must be able to work smoothly with your personnel and organizational structure. It must have internal controls that enable the owner(s) to manage the business effectively. The system must provide the maximum benefits at the lowest feasible cost to the business. Hence, option B: The system must provide minimal benefits at whatever cost is necessary is not true of an effective accounting system.
More on accounting system: https://brainly.com/question/28326510
#SPJ11
when loan payments are amortized, the total amount you owe every month remains constant but the amount of interest you own decrease every month. true or false
Answers
It is true that when loan payments are amortized, the total amount you owe every month remains constant but the amount of interest you owe decreases every month.
What happens when loan payments are amortized?When loan payments are amortized, the total amount you owe every month remains constant but the amount of interest you owe decreases every month. This is because the payments are structured to pay off both principal and interest, with more of the payment going towards interest at the beginning of the loan term and more going towards principal as the loan matures.
To know more about loan payments:
https://brainly.com/question/2591679
#SPJ11
Business
12 questions please help!!
Answers
Answer:
Fill in the blanks
Explanation:
Answer: 1. Unsecured loans 2. Business credit card 3. Unsecured loan 4. Small Business Investment Companies 5. Reserve Fund 6. Routine 7. Operating costs 8. Secured loan 9. Commercial Debt Financing 10. Small Business Administration 11. Sound 12. Venture Capital Firm
Explanation:
What are the primary reasons people choose to invest and trade stocks?
(Select all that apply.)
to earn a dividend to earn a dividend , ,
to earn capital gains to earn capital gains , ,
to earn predictable quarterly interest to earn predictable quarterly interest , ,
to earn money that is liquid
Answers
Answer:
to earn a dividend
to earn capital gains
Explanation:
Stocks represent ownership in a corporation. Shareholders are entitled to share in the profits of the business. The portion of profits that shareholders get for contributing capital is the dividend.
Investing in stocks makes one a shareholder and gives them the right to dividends. Investors always select the stocks of companies likely to declare high dividends. Dividends is an important reason why investors opt for shares or stocks.
Stocks of corporations that are performing well financially are likely to increase in price. Investors buy stocks when prices are low and selling them when prices appreciate. That way, they can profit through capital gain.
Dividends and capital gains are the rewards that investors gain from stocks. Interest is earned on deposits and loans.
Omar received $1,525 in gift when he graduated from high school. His pedants want him to save the money for collage, but Omar wants to buy new clothes, a watch, some CD’s, and a video game. He also needs new tires because the ones on his car are badly worn. Omar asked for your advice how should he spend his money
Answers
Which describes absolute advantage?
A.) ability to produce more cheaply
B.) existence of lower opportunity costs than competitors
C.) performance of a particular productive task within an economic system
D.) best alternative given up by a particular production decision
Answers
A producer has an absolute advantage over its rivals when it can create an item or service in a higher volume for the same price, or in the same volume at a cheaper price.
Which describes absolute advantage?
The capacity of a producer to outproduce a rival in terms of production of a products or service. Comparative advantage: When a producer can create a commodity or service for less money than a rival.
The capacity to produce at a lower cost; a comparative advantage over rivals in that there are reduced opportunity costs; Performing a certain productive work well within an economic system is known as specialisation. Protectionism: The presence of restrictions on free commerce.
The capacity of a company to create more and sell more of an item or service than competitors while utilizing the same amount of resources is referred to as having an absolute cost advantage in economics.
Learn more about absolute advantage:
https://brainly.com/question/13221821
#SPJ1
What is guaranteed by an implied warranty for all products?
A. That the product will work as described for a reasonable amount
of time
B. That no maintenance will be required for the product for at least
one year
C. That the retail company will match the price of any competitor
D. That the company will replace the product with any newer version
of it that is released within six months
Answers
Select the correct answer.
Which of the following careers poses the most significant daily risk?
A.
City manager
B.
Firefighter
C.
City planner
D.
Paramedic
Answers
b- firefighter , there is daily risk of losing their lives :)
Which one of the following is not a recognized form of business?
B Corp
Cooperative
S Corp
T Corp
Answers
Option (d), T Corp is not a legally recognized type of corporation.
T Corp: What is it?To local governments in New South Wales that are judged to be financially secure, TCorp offers long-term, competitively priced infrastructure loans in conformity with credit conditions. Learn more.
New South Wales Treasury Corporation is the primary source of funding for the state of New South Wales's public sector (TCorp). Its major objective is to provide financial services to the government of New South Wales as well as other public agencies and companies.
The option that comes next is not a category of company organization.The primary kind of business structure is not limited unregistered businesses. This type of business formation does not exist. All legal forms of business entities, including corporations, partnerships, and sole proprietorships, are acceptable.
Learn more about financial services: https://brainly.com/question/14508551
#SPJ1
why would anyone select a bank that has unfavorable overdraft policies
Answers
Answer:
The person may not have options due to age and distance and disabilities.
Explanation
What is the most easy career you can take that still gets you a decent amount of money?
Answers
Full time- flight attendant
Answer: Entrepreneur
Explanation:
Being self employed
how much does it cost to tent a house for termites
Answers
Termite treatment costs between $222 and $931, or $576 on average. Depending on the type of treatment, size of your home and severity of the infestation, you may pay anywhere from $3 to $16 per linear foot. Compare quotes from exterminators near you for the best treatment solution and price. Dealing with termite problems gets more expensive over time. The moment you suspect your home has them, you should hire a pro for inspection and treatment.
lacey company has cash in a checking account at jackson bank of $53,000, a money market account of $22,000, and a bank overdraft in a separate account at the same bank of $6,000. lacey should report cash of
Answers
Lacey Company should report cash of $69,000 ($53,000 in the checking account + $22,000 in the money market account - $6,000 in the bank overdraft). Cash includes all the assets that a company can readily use to pay its liabilities or expenses, including physical cash, bank account balances, and highly liquid investments such as money market accounts.
In this case, Lacey has a positive cash balance of $75,000 ($53,000 + $22,000), but it also has an overdraft of $6,000, which means it has overdrawn its account and owes the bank money. Therefore, the overdraft reduces the overall cash balance and needs to be subtracted from the total to arrive at the correct cash balance.
It is important for companies to accurately report their cash balances in financial statements since cash is a crucial resource for day-to-day operations and strategic investments. Investors, creditors, and other stakeholders rely on this information to assess a company's liquidity and financial health. Lacey Company's reported cash balance of $69,000 will provide a more accurate representation of its available resources and financial position.
To know more about Money Market visit:
https://brainly.com/question/29870100
#SPJ11
According to the video, which areas are Postsecondary Education Administrators likely to oversee? Check all that apply.
student attitudes
student orientation
parental distance
student housing
theater performances
academic standards
Answers
Answer:
2，4，6
Explanation:
Answer:
2，4，6
Explanation:
what is the main aim of business office
Answers
Answer:
the main aim is to aim for correct and fast work
What is price skimming?
Answers
Answer:
a strategy where someone sets a high price at first to attract people who like it a lot enough to buy it at that price but slowly lowering it over time so that even people who arent as desperate to buy it will possibly buy it as well.