Teal company is an accrual basis taxpayer. On December 1, 2020, a customer paid for an item that was on hand, but the customer wanted the item delivered in early January 2021. Teal delivered the item on January 4, 2021. Teal properly included the sale in its 2020 income for financial accounting purposes. a. Teal can elect to recognize the sale in its gross income in either 2020 or 2021. b. Teal must recognize the sale in its gross income in the year title to the goods passed to the customer, as determined under the state laws in which the store is located. c. Teal must recognize the sale in its gross income in 2020. d. Teal must recognize the sale in its gross income in 2021.
Answers: 3
Business, 22.06.2019 10:00, silviamgarcia
Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.
Answers: 1
Business, 22.06.2019 10:30, kingyogii
The rybczynski theorem describes: (a) how commodity price changes influence real factor rewards (b) how commodity price changes influence relative factor rewards. (c) how changes in factor endowments cause changes in commodity outputs. (d) how trade leads to factor price equalization.
Answers: 1
Business, 22.06.2019 21:20, dorianhenderson987
Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u. s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.
Answers: 3
Teal company is an accrual basis taxpayer. On December 1, 2020, a customer paid for an item that was...
Mathematics, 10.11.2020 20:30
Mathematics, 10.11.2020 20:30