Why is it harder to estimate expenses than to estimate income?

a) Expenses often change more from month to month

b) You can never truly know how much you spend

c) Your income will never change

d) None of these

The accountant of Omega Consulting failed to make an adjusting entry to record $6,000 for unearned service revenues that were earned before the end of the fiscal year. Assume the company initially recorded a liability.

Which of the following statements regarding tax credits is true? A. They are deductions that depend on the taxpayer's filing status, age, and vision and that can be claimed by a taxpayer whose total itemized deductions are small. B.

Ryerson Co. provides goods and services to customers during the year totaling $100,000. Also during the year, customers are granted discounts, returns, and allowance of $20,000.

Your firm has net income of $273 on total sales of $1,180. Costs are $660 and depreciation is $130. The tax rate is 30 percent. The firm does not have interest expenses. What is the operating cash flow

Shown below is a trial balance for novelty toys, inc., on december 31, after adjusting entries: novelty toys, inc.

Which of the following changes would represent an austerity measure? Choose one or more: A. a decrease in the number of public workers, to reduce government expenses B. an increase in the number of public workers, to reduce government expenses C.

A small business produces a single product and reports the following dа ta: Sales price $ 8.50 per unit Variable cost $ 5.

The lower the times interest earned ratio the more likely A) a business will need to borrow money B) a business will suffer a loss C) a default in payment will occur D) interest payments can be made

Corba Company is evaluating whether to replace an old machine with a new, more efficient machine. Corba purchased the old machine for $600,000, and there is $180,000 of accumulated depreciation recorded for the machine.

A girl is given $15 by her parents. She has two options of how to spend the money. She can either save the money for future purchases or she can start a lemonade stand on her driveway.