Form 1099-G is an information return used to show the payment of: a. Dividends. b. Interest. c. Unemployment compensation. d. Distributions from a partnership, e. None of these choices are correct.

Q: When opposed to cash-basis accounting, does accrual-basis accounting offer more meaningful…

A: Under cash basis accounting, transactions are recorded when the cash is actually paid or received.…

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Q: What items are not presented on the income statement?

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Q: How do defreinciate between a accured income and prepaid income

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Q: What is referred by unearned income? How is it adjusted in the final accounts?

A: Unearned income:Unearned income is known as deferred income or deferred revenue. It is the money…

Q: Which of the following is business income for NOL purposes?    Interest earned on savings account.…

A: If your deductions for the year are more than your income for the year, you may have a net operating…

Q: What is unearned income ,income recived  in advance ?

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Q: Which of the following items on the statement of net assets available for benefits would indicate a…

A: nondiscrimination testing is one of the tests of IRS testing  in order to ensure that company not…

Q: Which of the following is excluded from gross income? a.Scholarships for tuition b.Prizes c.Rental…

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Q: How is the Income Summary account used? Is it a temporary or permanent account?

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Q: What is meant by the following terms? You should provide an example of each to support your answer.…

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Q: Which of the following is considered or construed as an example of "constructive receipt"?

A: GIVEN   the following is considered or construed as an example of "constructive receipt" is

Q: Describe the accrual accounting rate-of-return method. What are its main strengths and weaknesses?

A:

Q: How does EVA differ from accounting net income?

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Q: What is the formula used to get the answers in interest expense and net income?

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Q: 3. The following records were taken from the books of the Company and its branch on December 31,…

A: Home office branch Opening stock 115000 35600 (44500/125%) Add: purchases 820000   Add:…