What are compensated absences?

Q: fringe benefits and de minimis benefits?

A: Answer  There are various countries helping with various benefits for its employees and pay…

Q: Define the term recovery allowance percentages?

A: Tax based depreciation rates are provided by the IRS and are called MACRS which is the modified…

Q: What is the effect of a Significant Deficiency? What is it?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Are there any alternatives to the allowance method?

A: The alternative to the allowance method is the direct write-off method, under which bad debts are…

Q: compensation in commodatum.

A: Commodatum is nothing but a roman law which states that commodatum is an agreement which is a type…

Q: What is Insolvencey?

A: Liability: It is the legal financial debt owed by a company to outside entities that arises over the…

Q: What are the benefits of Payback Screening?

A: The business has multiple options to invest in. It is vital to opt for the correct option of…

Q: Is recover compensation within? compensation Inco ne ontion from in uranoe

A: Recovery compensation refers to the recover or regain through the agency of government against all…

Q: What is the quantitative disclosure of lessee?

A: Lease Agreement:   It is a contract between the owner of the asset (lessor) and the person who uses…

Q: What is tmes-Interest earned?

A: Times-interest earned: This ratio quantifies the number of times the earnings before interest and…

Q: how much is the Allowance for Overvaluation after adjustment?

A: Given that, Allowance for overvaluation = P157,500 Shippment from home office = 120% of cost…

Q: Why is there a cost associated with reinvestedearnings?

A: There is some adaptability in the measure of funds that will be created from new reinvested earnings…

Q: What are the key difference in compensation for PCN and TCN? Do these differences matter?

A: Before understand the concept of PCN and TCN we need to understand the types of coutries. There are…

Q: In what way is compensation similar to payment? Explain each by giving examples or cases that you…

A: Compensation :  It a payment given in exchange of services.  It is a form of a payment. It can only…

Q: What is lessor?

A: A lease is the agreement between two individuals. Under the lease agreement one individual provide…

Q: What are some motives for divestitures?

A: The question is based on the concept of divestiture strategy, which is used by company to overcome…

Q: What is a prior-period adjustment?

A: Statement of retained earnings: This is a financial statement that shows the amount of net income…

Q: What is the difference between a conditional and unconditional contribution?

A: Step 1 Contribution can be defined as something which a person contributes for achieving something.…

Q: What are royalties ?

A: Royalties means payments  made for the purpose of use of property or license or some other important…

Q: What is discounting and compounding? What is the difference between them?

A: We need to use the equation of time value of money to explain the concept of discounting and…

Q: How does accounting for permanent differences less complex than is accounting for temporary…

A: Temporary Difference:   A temporary difference is the difference of an income recognized under the…

Q: What is nonpecuniary benefits?

A: The benefits which are not in monetary form are called as Non Pecuniary benefits. The notion that…

Q: What is the unadjusted trial balance?

A: Trial balance is the summary of all general ledger accounts being used in the business. It shows…

Q: How is the Handling of Unequal Service Lives done?

A: When decision has to be made while comparing one project with other projects and out of which only…

Q: When are loss contingencies recorded?

A: Definition:   Contingent liability: This is an uncertain obligation which might be incurred on a…

Q: What does furlough mean?

A: Furlough: Furlough is a provisional leave of workers owing to particular requirements of a firm or…

Q: What is eviction?

A: Eviction as per law is the process of civil nature in which court allows landlord to legally remove…

Q: How are deductions and losses different? How are they similar? Explain

A: Deductions: As deductions, the existing expenses made for the development of current period profits…

Q: Explain the Redemption process?

A: The question is based on the concept of redemption, which is mainly used for repayment of fixed…

Q: What is his QBI deduction?

A: 1. Deduct upto 20%  QBI = $ 110,000 * 20% = $ 22,000 2.  50% of the W-2 wages  QBI = 40,000 * 50% =…

Q: What is the definition of “holding gain or loss”?

A: Gains: Gains are the profits earned from non-operating activities of a business like sale of land,…

Q: What are some types of divestitures?

A: A divestiture or divestment is the disposal of the company’s assets or a through sale, exchange,…

Q: What is allowance method?

A: Definition:   Allowance method of accounting for uncollectible accounts: This is the accounting…

Q: how much is recorded as outright se?

A: in case of bussiness combination if additional information recevied within a Measurment period…

Q: What's the adjustment?

A: The answer is provided as follows:

Q: What is the unequal life problem, under what conditions is it relevant, and how should it be dealt…

A: Capital budgeting is the technique used for finding the profitability and liquidity of investment…

Q: allowable deduction?

A: Definition : Deductions under income tax: Deductions are allowed on taxable income of the…

Q: What’s the difference between simple interest and add-on interest?

A: Interest is the amount of extra payments a borrower has to make to its lender as a return for…

Q: What is lessee?

A: Lessee: It is term used for any person who has rented any land-property from someone else. That is…