The correct reaction from a professional tax preparer to a taxpayer who missed things on an income tax return that was submitted in a prior year is to inform the taxpayer of the implications of not updating the prior year's return.
A taxpayer is a person or a company that must pay taxes to the federal, state, or municipal governments. Governments mostly derive their income from taxes on both citizens and businesses. Individual taxpayers must typically file and pay both federal and state tax returns each year in the US. While companies must also submit yearly returns, they typically budget for and make recurring anticipated tax payments throughout the year.
Governments at all levels—federal, state, and local—legislate and enforce the U.S. tax code. The major governmental body responsible for enforcing the actualized income tax laws for taxpayer both individuals and corporations is the Internal Revenue Service (IRS).
Implementing and enforcing localized taxes, such as sales taxes and property taxes, falls under the purview of state and municipal revenue agencies. Both individuals and taxpayer corporations need to be aware of their tax responsibilities because failing to pay required taxes can result in fines or other legal measures.
Learn more about taxpayer here
https://brainly.com/question/24020502
#SPJ4
it is the responsibility of to apply generally accepted accounting principles in preparation of the company's financial statements. (enter only one word.)
Answer:management
Explanation:
investors who put their own money into a startup are known as question 13 options: mannequins. obligators. angels. borrowers.
Investors who put their own money into a startup are known as angels.
An investor is a person that allocates capital with the expectancy of a future financial return or to benefit from an advantage. thru this allotted capital maximum of the time, the investor purchases a few species of belongings.
An investor can be a man or woman or a corporate entity. as an instance, an organization could make contributions price range to a joint mission, wherein case the employer is an investor within the joint task.
Any person or enterprise who commits capital with the expectancy to ultimately get hold of financial returns is an investor. This vast definition includes everyone from startup accelerators to Wall avenue establishments or even family participants who loan money to each other.
Learn more about investors here:https://brainly.com/question/25311149
#SPJ4
can a company be successfull at project management without having or using a project management methodology?
An employer is a success at project control without having or the usage of a task management method: The task management methodologies list — we've got compiled this listing of mission control methodologies to help you become familiar with the basics.
The definition of management is the manner something is handled, cautious treatment, supervising talents, or the ones in the rate of an enterprise or organization. An example of control is how someone handles their non-public finances. An instance of management is the show of a problem while handling something fragile. An instance of control is the show of challenge whilst dealing with something fragile. An instance of the control is how a skillful manager handles a hard state of affairs. An example of management is the CEO of an enterprise. Skillful dealing with; careful, tactful treatment.
Business management is the coordination and employer of enterprise activities. business managers oversee operations and assist personnel to attain their top productivity levels. An enterprise manager may additionally supervise or educate new employees, and help a enterprise reach its operational and economic goals. The four most common types of managers are top-degree managers, middle managers, first-line managers, and crew leaders.
Learn more about management here:
https://brainly.com/question/1276995
#SPJ4
Jaime, a new student, was placed in a study group to prepare for an upcoming science test. Science is a difficult subject for him, and he was worried about failing the test. However, after a few study group sessions, he was much more comfortable with the concepts. Fellow group member Mike was able to explain cell division to him in a way he could finally understand! Jaime looked forward to learning more in each session and enjoyed getting to know his fellow group members. He even made plans to go to a movie with his new friends!
Which benefits of collaboration are evident in the scenario? Check all that apply.
Jaime was engaged in his learning.
Jaime formed a community bond.
Jaime remembered what he learned at test time.
Jaime got a fresh perspective on how to learn something that had been difficult in the past.
Jaime now understands the concepts more deeply.
Answer:a,b.d,e
Explanation:
all except for the one in the middle
Answer:
a, d, b, &e
Explanation:
the excluding organization, the passive club, and token acceptance symbolic equity, substantial equity, and the including organization
the passive club, the token acceptance, and the excluding organization symbolic equity, significant equity, and the included organization Minor's Six Stage Model applies to me.
SORTING IN ORGANIZATIONS, FORMAL AND INFORMAL
There are formal and informal ways to categorize our groupings and the individuals inside them in organizations. The vast majority of organizations have a set structure that establishes position and power. Because of this, companies explicitly enforce norms, such as manager-employee meetings or secret leadership meetings, that establish some sorts of exclusion as appropriate. The culture of the company supports and encourages both of these behaviors.
The culture of a business makes certain forms of exclusion, such private leadership or manager-employee meetings, acceptable and expected.
to know more about excluding organization
https://brainly.com/question/1288780
#SPJ4
they would be doing the very work that is necessary to reduce food costs, alleviate labor shortages and help tackle inflation.
Would be doing the very work this is vital to reduce food fees, alleviate labor shortages and assist tackle inflation.
Whilst a labor scarcity takes place, there aren't enough applicants to fill the jobs employers are hiring for and it is tough to find applicants for open positions. a first-rate purpose of a labor scarcity is whilst personnel quit at high costs at the same time as demand for workers remains excessive.
If this labor shortage keeps, there could be rising wages, inflation, and delivery chain problems within the short time period. For a long time, it may halt GDP growth, set off a recession, and cripple the destiny enlargement of sectors dominated by blue-collar and guide workers.
Inflation has several reasons, including delivery shortages and extended calls, a boom in the value of an amazing provider for which there's no alternative available or it can adjustments in wages and next fee increases.
Learn more about inflation here:-https://brainly.com/question/777738
#SPJ4
in each of the following scenarios, select the appropriate scale of measurement. a meteorologist records the amount of monthly rainfall over the past year. multiple choice 1 nominal ordinal interval ratio a sociologist notes the birth year of 50 individuals. multiple choice 2 nominal ordinal interval ratio an investor monitors the daily stock price of bp following the 2010 oil disaster in the gulf of mexico. multiple choice 3 nominal ordinal interval ratio
A scale of measurement can be defined as a classification which is used to illustrate the attributes of the values that are assigned to variables associated with a data set.
The scales of measurement.Generally, there are four (4) basic scale of measurement for a variable and these include the following;
Interval scaleRatio scaleOrdinal scaleNominal scaleWhat is a ratio scale?A ratio scale can be defined as a quantitative scale of measurement where there is a true zero or origin characteristic. Also, there are equal intervals between neighboring data points on a ratio scale.
Read more on scale of measurement here: https://brainly.com/question/13267344
#SPJ1
the various models of oligopoly explain observed behavior in different industries, but none is satisfactory as a general theory of oligopoly.
The various models of oligopoly explain observed behavior in different industries, but none is satisfactory as a general theory of oligopoly because two to ten companies can compete on pricing, quantity, technological advancements, marketing, and reputation
What is General Theory of Oligopoly ?
An oligopoly refers to a market structure with few enterprises and high entry barriers. Oligopoly = A market structure with few firms and high entry barriers. Firms frequently compete fiercely, as each makes decisions on prices, volumes, and advertising in order to maximize profits.
Oligopolies may pursue a highly competitive approach, in which case they can reap benefits comparable to more competitive market structures, such as cheaper pricing. Even though there are only a few enterprises, the market may be very competitive due to their behavior.
As a result, oligopolies display the same inefficiencies as monopolies. Oligopolies never reach an efficient scale of production efficiency because the marginal cost curve contacts the marginal revenue curve before it hits the average total cost curve, and so never run at their least average total cost.
To learn more about General Theory of Oligopoly from here
https://brainly.com/question/15293045
#SPJ4
Word count - 176 words
Question 15 Multiple Choice Worth 5 points)
(03.03 MC)
Martha received her credit report and sees that her FICO score is 350. Which factor could be the cause?
She filed for bankruptcy last year.
O She has two credits cards with low balances.
She has a long credit history.
She has used several types of credit.
The reason why Martha's credit report has such a low FICO score could be because She filed for bankruptcy last year.
What happens to credit scores when bankruptcy is filed?When a person files for bankruptcy as Martha did last year, they are protected from their creditors and often pay back less than they owe.
As a result, it reduces their credit score because creditors would be less trusting of them in future.
Find out more on the FICO score at https://brainly.com/question/9913263.
#SPJ2
suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1912. it is now 2020. note: for all requirements, do not round intermediate calculations. round your answer to 2 decimal places. if your great-grandfather invested $1,000 in 1912, how much would that investment be worth today?
The investments today’s worth is $203001.61.
We have to calculate the future value of the investments. So we can use the formula,
A=P (1+r/100)ⁿ
Where, A stands for future value, P stands for Present value, R stands for Interest rate, n stands for Time period.
Interest rate (r) = 5%= 0.05 and Time period is from 1912 to 2020 so, it is equals to 108 years. (2020-1912year)
On putting the values in the above formula we get,
A = 1000× (1+ 5/100)^108
=1000*203.001612
=$203001.61
The worth of a current asset at some point in the future based on an estimated rate of growth is known as future value (FV). The future value calculation enables investors to forecast, with varying degrees of accuracy, the amount of profit that can be generated by various investments.
Investors and financial planners use the future value to estimate how much an investment made today will be worth in the future. The future value equation is used to assess various possibilities since the growth produced by holding a given amount in cash will probably differ from that produced by investing that same amount in equities.
To learn more about future value, refer this link.
https://brainly.com/question/24703884
#SPJ4
when consumers examine products, they often compare an observed price to an internal price they remember. this is known as a(n)
In a situation where consumers examine products, they often compare an observed price to an internal price they remember. This process is known as a reference pricing. Therefore, the option B holds true.
What is the significance of a reference price?A reference price can be referred to or considered as the price that is known to the consumer related to a particular product due to the remembrance from the last time he or she purchased or saw that product. It is often comparable with the prevailing market prices of a product.
Therefore, the option B holds true and states regarding the significance of the reference price of a consumer.
Learn more about reference price here:
https://brainly.com/question/13361768
#SPJ4
The missing choices to the incomplete question have been added below for better reference.
A) markup price
B) reference price
C) market-skimming price
D) accumulated price
E) target price
What do you mean by sustainable development? What is as relation with environment.
Answer:
The concept of sustainable development was described by the 1987 Bruntland Commission Report as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
Explanation:
costs for office equipment in the first year of a business can run from approximately question 8 options: $500 to $1,500. $3,000 to $12,000. $6,000 to $18,000. $10,000 to $25,000.
The costs for office equipment in the first year of a business can run from approximately $3,000 to $12,000. Therefore, the option B holds true.
What is the significance of costs?Costs can be referred to or considered as the amount to be incurred by a firm in order to ensure smooth functioning of its business operations. They vary from the department to department and the nature of the firm.
Costs such as office equipment can have a varying range for different natures of the firm. Most of the firms will have a cost for these equipments between $3,000 to $12,000. This range is not exhaustive, though.
Therefore, the option B holds true and states regarding the significance of costs for office equipments.
Learn more about costs here:
https://brainly.com/question/13657862
#SPJ4
a restaurant's rent is scheduled to increase by 7.1% next year. if the current monthly rent is $2,780, the new rent will be
A restaurant's rent is scheduled to increase by 7.1% next year. if the current monthly rent is $2,780, the new rent will be $2,977. Thus the correct option is D.
What is the rent?When any land owner provides his property to someone to live or to utilize it for a certain duration of time. The amount charged on the property is referred to as rent.
The calculation for new rent is-
Current rent= $2780
increase with the rate of interest as =7.1%
Interest =2780*7.1/100
Interest =197.38
New rent= 2780+197.38
New rent =$2,977. 38
Therefore, option D $2,977 is appropriate.
Learn more about Rent, here:
https://brainly.com/question/26268428
#SPJ4
The complete question is
A restaurant's rent is scheduled to increase by 7.1% next year. If the current monthly rent is $2,780, the new rent will be
$2,613
$2,945
$2,919
$2,977
charlie's chocolates' owner made investments of $70,000 and withdrawals of $30,000. the company has revenues of $103,000 and expenses of $74,000. calculate its net income.
Net income = $24000.
What is Net income?In finance and business, net income (also known as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income less its costs of goods sold, expenses, depreciation and amortization, interest payments, and taxes for a given accounting period.
It is calculated as the sum of all revenues, profits, and losses during the period less all expenses, losses, and gains. It has also been described as the net growth in shareholders' equity as a result of a company's operations. It's not the same as gross income, which solely deducts the cost of the things sold from revenue.
Net income is the (gross) income after taxes and other deductions for both households and individuals.
To learn more about Net income from the given link:
brainly.com/question/15570931
#SPJ4
if the discount (or interest) rate is positive, the future value of an expected series of payments will always exceed the present value of the same serie
This is false. If the discount (or interest) rate is positive, the future value of an expected series of payments will not always exceed the present value of the same series.
What is meant by the discount rate?The discount rate can be defined to be the interest rate that is used to check the present value of the future cash flows that are in a discount cash flow. It helps to tell us if the cash flow that is in a particular project would be greater than the capital that would fund it.
Hence we can say that This is false. If the discount (or interest) rate is positive, the future value of an expected series of payments will not always exceed the present value of the same series.
Read more on discount rate https://brainly.com/question/9841818
#SPJ1
quizlet what is the opportunity cost of the first truck produced?instructions: round your response to one decimal place.
Opportunity cost is the advantage passed up in favour of a different course of action.
The quantity of tanks not produced is the opportunity cost of building a second truck. The number of tanks produced decreases from 4.5 to 3.8 as the number of trucks produced goes from 1 to 2.
The potential cost of creating a second unit of track is therefore
= 4.5-3.8
= 0.7 tank
What is Opportunity cost ?
Opportunity cost is the advantage that was lost because a particular option was not selected.It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.Opportunity costs have a value that can help people and businesses make more lucrative decisions.Opportunity cost is a wholly internal expense that is only utilised for strategic consideration; it is not included in accounting profit and is not reported externally.Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. Opportunity costs are by definition invisible, making it simple to ignore them.To know more about Opportunity cost visit:
https://brainly.com/question/14752709
#SPJ4
Adrian is an investor. He reviews the income statement of a company and concludes that he will benefit from investing in it. What is the information that is provided in the income statement that most likely helped him make this decision?
A.
income statement showed the debts the company owes
B.
income statement showed the net profit of the company for a specific period
C.
income statement showed the assets of the company
D.
income statement showed the equity capital of the company
Answer:
B. income statement showed the net profit of the company for a specific period
Explanation:
The management prepares an income statement at the end of a financial year to show whether a business made a profit or loss. It lists all the revenue in the top section, the expenses in the middle, and profit or loss at the bottom.
The income statement communicates how much profits a business made during a specific financial period. Adrian was impressed by the profits that the company made that period.
Identify markets in which you act as a buyer/demander and markets in which you act as a seller/supplier
The market in which you act as a buyer/demander and markets in which you act as a seller/supplier are:
Buyer:
A. You purchase coffee in a coffee shop.
E. You're considering which job applicant to hire at your company.
Seller:
B. You consider which politician to vote for in an upcoming election
C. You seek employment in the industry for which you have trained
D. You've written a book and several publishers are interested in purchasing the rights to publish your work.
Who is a buyer and a seller?A buyer can be defined as someone that buys goods or purchased product from a seller.
On the other hand a seller can be defined as the person that sell goods or rendered goods and services to a buyer.
Therefore buyer is options A, E and Seller is options B, C, D.
Learn more about who is a buyer and a seller here:https://brainly.com/question/906651
#SPJ1
The complete question is:
Identify markets in which you act as a buyer/demander and markets in which you act as a seller/supplier.
Buyer/demander Seller/supplier
D. You've written a book and several publishers are interested in purchasing the rights to publish your work
A. You purchase coffee in a coffee shop,
E. You're considering which job applicant to hire at your company,
B. You consider which politician to vote for in an upcoming election
C. You seek employment in the industry for which you have trained
Which of the following is an example of nonverbal communication?
shaking hands to greet a supervisor
writing an email to a coworker
talking on the telephone to a customer
listening to a presentation at a meeting
ILL GIVE BRAINLEST IF UR ANWSER IT RIGHT .....
Answer:
Option: writing an email to a coworker
Explanation:
Writing an email to a coworker is an example of nonverbal communication because there is no communication between people by speaking or listening. Writing an email to a coworker is a way of communicating with a person without listening to others converse or engage in one to one talk in person.
Answer:
B
Explanation:
demand factor initial value average american household income $40,000 per year roundtrip airfare from los angeles (lax) to las vegas (las) $100 per roundtrip room rate at the grandiose hotel and casino, which is near the peacock $200 per night
An increase in the average income of the household incomes would raise the quantity demanded of the room because generally hotel stay possesses a positive relationship with the income levels of the people.
If it could be said that if the consumer can have the maximum number of hotel stays with his given income is,
=$40,000/$200
=200units
Hence, the predicted demand which is possible at the maximum,
=$60,000/$200
=300units.
Hence, the predicted demand for room stays could go from 200 to 300 units.
The median household profits inside the U.S. for 2020 is $67,521, down from $ 68,703 in 2019. while examining median household profits by way of the kingdom, the kingdom with the best median family earnings is Maryland at $94,384. The nation with the lowest median family profits is Mississippi at $ 44,966.An own family income between $32,048 and $53,413 was taken into consideration decrease-middle class. For excessive earners, a 3-man or woman circle of relatives needed a profit between $106,827 and $373,894 to be taken into consideration top-center class, Rose says.
Learn more about The Household profits here:-https://brainly.com/question/21771558
#SPJ4
in each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. cash retained earnings cost of goods sold salaries and wages expense prepaid insurance inventory accounts receivable sales revenue notes payable accounts payable
An important component of financial statement includes the ssets, liability, stockholders' equity, revenue, or expense.
What is component of financial statement?An asset refers to the resource that a business owns or controls, a liability refers to the thing that a company owes such as a sum of money, a stockholders' equity refers to the amount that the owners of a company have invested in their business, the revenue means the amount of income generated by the sale of goods or services and the expense means the cost of operations that a company incurs to generate revenue.
Cash - AssetsRetained earnings - Stockholders' equityCost of goods sold - ExpensesSalaries and wages expense - Expenses Prepaid - LiabilityInsurance - ExpensesInventory - Asset Accounts receivable - Asset Sales revenue - RevenueNotes payable - LiabilityAccounts payable - LiabilityRead more about financial statement
brainly.com/question/26240841
#SPJ1
You go to buy a new computer and the salesperson tries to sell you an "extended warranty." You know that extended warranties can add a lot to the purchase price of the computer but you want some protection in case your computer breaks down. What are three questions you should ask before you agree to the contract?
Answer:
Extended warranty means provided extra protection to the breakage or problems occurred on a newly purchased item for a longer period.
Explanation:
Extended warranty is also known as the service agreement or maintenance agreement that is offered to a customer when they plans to purchase a new item like any electronic item including laptops, mobile phone, television, camera ,etc. It provides extra prolonged protection to the item or device than the regular warranty period.
In the context, the questions that I will ask the salesperson before agreeing the contract on the extended warranty on the purchase of the new computer are :
1. What is the extra amount I have to pay for the extended warranty.
2. For how long this "extended warranty" covers or protects my computer.
3. The extended warranty provides coverage on what items items and what defects.
A student is ordering a flower arrangement. She can choose any combination of roses and carnations for her flower arrangement, and she does not want to spend more than $30. If roses cost $3 each and carnations cost $2 each, which inequality represents all possible combinations of x roses and y carnations?.
The disparity is;
2x + 3y ≤ 30
the required details about the carnations equation is mentioned below.
Here, we want to decide which inequality best captures all conceivable arrangements of x roses and y carnations.
According to the query, roses cost $3 and carnations cost $2.
Consequently, $3x was spent overall on x rose purchases.
y carnations were purchased, totaling $2y.
When she says she doesn't want to spend more than $30, that means she can spend exactly $30 or less than $30, but not more.
The total amount of the roses and carnations purchased is therefore less than or equal to $30 according to mathematical convention.
As a result,
2x + 3y ≤ 30
to learn about carnations from the given link.
https://brainly.com/question/17477638
#SPJ9
24) In the U.s. economy, a few firms dominate the wireless telephone provider Industry. Whlch type of
market structure does this represent? (SSEMT36 DOK: 2)
oligopoly
B. monopoly
C. pure competitilon
D. monopolistic competitlon
Answer:
oligopoly
Explanation:
An oligopoly is a market structure comprising a few firms dominating a large market with many buyers. The few firms sell similar or differentiated products. Each of the firms commands a sizable market share and can influence the market. Apart from the few dominating firms, there could be other small sellers with a smaller market share operating in the market. Another example of an oligopoly market is the air travel business, where a few airline companies dominate the market.
Characteristics of oligopoly market include
Barriers to entry due to heavy capital requirements and market domination by a few firms.Each firm sets its priceheavy advertising to woe clientsCollaboration among the few dominating firmsIf you have an orientation where you read manuals and fill out paperwork, it is probably a _____.
a.
new hire orientation
b.
interactive orientation
c.
reorientation
d.
mentorship
Answer:
mentorship
Explanation:
Anyone who has the power to sway or persuade others, especially via their opinions and posts on a specific topic, market or industry, is known as a/an:
А
sharer
B
participant
С
contributor
D
influencer
during the current year, revitup, inc., an exercise video retailer, sold $24,000 of videos to its customers. revitup collected $22,000 and expects to receive the remaining $2,000 in january of the following year. revitup's income statement for the year ended december 31, of the current year, will report revenue of $
Even though the income statement for the year for Revitup Inc ends December 31, the revenue reported will be $24,000.
How is revenue recognized?Going by the accrual basis in accounting, revenue is recognized by a company in the period that it supplies the goods or services that the company is to be paid for.
This means that because Revita sold the videos in the current year, the revenue will be recognized in the current year regardless of when pay is received. The revenue is therefore the entire $24,000.
Find out more on the accrual basis at https://brainly.com/question/25817056
#SPJ1
I need some help on this question!
Answer:
1280
Explanation:
After subtracting his expenses, the answer is 1280, meaning he has 1280$ left over.
if all of the following policies were issued to 25-year-old individuals with the same risk classification, face amount, and from the same company, which policy will the cash value grow at the fastest rate?
The policy at which the cash value will grow at the fastest rate is 20-Pay Life Policy.
A 20-Pay Life Policy is designed for people who are looking for limited level premiums with cash value growth and also permanent death benefit protection. So, a person pay 20-level annual premiums, but the death benefit is guaranteed for them for a lifetime lifetime.
The life insurance company generally invests the premium payment in a conservative yield investment. Thus, so when you continue to pay premiums on the policy and earn more interest, your cash value will grow over the years.
Hence, so after the 20-year term ends, you can either let your policy expire or can renew it.
To learn more about 20-Pay Life Policy here:
https://brainly.com/question/27338193
#SPJ4