If My Income Tax Return Is Accepted, Can I Still Be Audited?

Lisa lives next to a vacant plot that belongs to Carol. Carol has never visited the plot in the last 20 years during which period, Lisa has taken care of it by fencing the plot and mowing the grass. if this continues, Lisa will be able to claim ownership of land based on adverse possession.

Adverse possession, every so often colloquially described as "squatter's rights", is a criminal principle in the Anglo-American not unusual law below which a person who does no longer have criminal title to a chunk of assets generally land (real assets) may additionally accumulate prison possession based on continuous ownership or occupation of the property without the permission of its prison owner. The ownership by means of a person is not unfavorable if they may be in ownership as a tenant or licensee of the felony proprietor.

What's the rule of thumb of adverse possession?

It was determined: “adverse possession lets in a trespasser – a person guilty of a tort, or maybe a crime, in the attention of the regulation – to advantage felony title to land which he has illegally possessed for 12 years.

What are the necessities of adverse possession?

Someone who claims adverse possession have to show: (a) On what date he got here into possession, (b) What became the character of his ownership, (c) Whether the factum of possession become regarded to the opposite party. (d) How lengthy his ownership has persevered, and (e) His possession became open and undisturbed.

Learn more about adverse possession here:- https://brainly.com/question/22711915

#SPJ4

It would take Benjamin 11 months to pay back the loan if he makes monthly payments of $2,810 at the end of every month.

Benjamin obtained a loan of $22,500 at 5.5% compounded monthly. He wishes to know how long it would take to pay back the loan if he makes monthly payments of $2,810. The payments are made at the end of each month. We are expected to determine the period it would take to settle the loan if the monthly payments are $2,810.

Because Benjamin is making monthly payments, the interest rate would also be calculated monthly.

Thus, we have

r = 5.5%/12 = 0.00458.

Also, the present value (PV) is $22,500, and the monthly payment (PMT) is $2,810.

We would need to determine the number of months it would take to pay back the loan. To achieve this, we would make use of the formula for the period (n) in the formula for the present value of an annuity.

The formula is given as:

n = -log(1- PV * r / PMT) / log(1+r)

=> n= -log(1- PV * r / PMT) / log(1+r)

=> n = -log(1- 22500 * 0.00458 / 2810) / log(1+0.00458)

=> n = 10.21 months,

rounded up to the next payment period ≈ 11 months.

Therefore, it would take Benjamin 11 months to pay back the loan if he makes monthly payments of $2,810 at the end of every month.

Learn more about annuities from the link given below:
brainly.com/question/32931568

#SPJ11

Answer:

join pa dlet to get the answers

Explanation:

1. The annual depreciation expense for the computer bought by Gates Gems on January 1st is $1,566.67 ($5,000 - $300)/3.

2. The depreciation expense bought by Gates Gems on July 1st that it will record for the year is $783.33 ($5,000 - $300)/3 x2.

3. The annual depreciation expense for the computer bought by Karen’s Flower Shop on January 1st is $2,240 ($12,000 - $800)/5.

4. The depreciation expense that Karen will record for the first year is $802 ($8,900 - $1,200)/4 x 5/12.

5. The annual depreciation expense for the booths purchased by Michael's Diner on January 1st is $514 ($2,570/5).

6. The depreciation expense that Michael will record for the first year is $1,451.40 ($10,000 - $500)/6 x 11/12.

7. The depreciation expense that Ieshah will record for the first year is $295 ($6,500 - $600)/5 x 3/12.

8. The annual depreciation expense that ABC Corporation will record is $480 ($2,800 - $400)/5.

Thus, the above illustrations demonstrate that depreciation expense is based on time usage as it is prorated when the equipment is not used from the beginning to the end of the fiscal year.

Learn more about depreciation expenses at https://brainly.com/question/25530648

#SPJ2

Answer:

TRUE FHA meaning federal housing administration

Lin had decided to buy the cheapest of three fitness cameras, but

she changed her mind when she read the return policy  did not use a cost-saving strategy when deciding how to spend their money .

What is Cost reduction strategies ?

Practices and guiding concepts that aim to maximize operational effectiveness are known as cost reduction strategies. They deal with everything related to managing a firm, including employing staff and making travel arrangements.

                                    Process simplification, efficient resource allocation, and waste reduction are key components of a successful deployment. A group of procedures or practices known as cost savings aim to lower the actual or anticipated costs of a specific transaction.

What advantages do cost savings offer?

The amount of debt you have or the amount of money you need to invest in a project may both decrease as a result of cost reductions. Saving money by cutting costs has a definite financial advantage.

                          To put it another way, when you examine your money, you can find cost-saving measures. Both annual budgets and financial statements make them clear.

Learn more about a cost-saving strategy

brainly.com/question/26655916

#SPJ1

Banks do not hold a lot of their assets in the form of cash mainly because of  the opportunity cost of holding cash, cash does not earn interest.  The correct option is C.

Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.

The interest that could have been made if the cash had been used to buy bonds instead is the opportunity cost of keeping any money balance.

Therefore, due to the  opportunity cost of holding cash and cash does not earn interest banks does nor prefer to hold a lot of their assets in the form of cash .

To learn more on opportunity cost, here:

https://brainly.com/question/13036997

#SPJ4

Answer:

Kindly see Explanation

Explanation:

Raman is described above as being a government servant, this means Raman is an employee of the Federal or State Government. In other words, Raman works in a government runned establishment. Raman is in the civil service.

Radha who is described as an advocate could be explained as an individual who lends his or her voice in other to make others get heard or a protagonist of a certain course.Radha could be described as being into Law or judicial activities.

Amit who retails electronic goods could be described as being self-employed who is into buying and selling.

Difference between activities of Raman, Radha and Amit.

1.) Engagement sector:

Raman works in the civil service, while Radha work is inclined with the legal and activism process and Amit is into commerce.

EMPLOYER:

2.) Raman is clearly a government employee, Radha could work for Non-governmental or Volunteer organizations, while Amit is Self-employed.

DECISION-MAKING :

3.) Raman works based on defined government framework and rules, Radha as an advocate is more inclined towards promoting morality, While Amit will make decisions based on what is best for his business as an entrepreneur.

The amount to be paid at the end of the loan period will be $33,120. The rate of interest on the loan is given as per annum and hence the interest is to be calculated for 6 months.

Given:

\(\rm Principal &= \$32,000\\\\Rate &= 7\%\:per\:annum\\\\Tenure = 6\:months\)

Interest is calculated from the following formula:

\(\rm Interest = Principal\times Rate \times Tenure\)

Hence the interest for the loan will be:

\(\begin{aligned}\rm Interest &= \$32,000\times 7\% \times 6\: months\\\\&= 32,000 \times \dfrac{7}{100}\times \dfrac{6}{12}\\\\&= \$1,120\end\)

The final payment for the loan will be the combination of principal and interest.

Therefore final payment = $32,000 +$1,120

                                        = $33,120

Learn more about the topic here:

https://brainly.com/question/2284847

Answers a. and b. are both correct. Procurement of supplies and storage of supplies are both considered part of supply chain management.

Procurement of supplies and storage of supplies are both considered part of supply chain management. Preservice insurance verification to determine coverage for supplies used in patient care is not typically considered part of supply chain management, as it is more closely related to healthcare billing and reimbursement processes.

Learn more about  management. from

https://brainly.com/question/1276995

#SPJ11

The statement "the net accounts receivable reported in the current asset section of a company's balance sheet represents all receivables expected to be collected within the next year" is true because accounts receivable are a type of asset that appears on the balance sheet and represents all receivables expected to be collected within the next year.

The given statement "the net accounts receivable reported in the current asset section of a company's balance sheet represents all receivables expected to be collected within the next year" is true because accounts receivable (AR) are defined as the amounts of money owed to a business by its customers and clients for goods and services purchased on credit. Accounts receivable are known as trade credit and represent receivables expected to be collected.

Trade credit is a type of credit offered to businesses that enables them to purchase goods and services without paying cash at the time of purchase. These transactions are recorded by the seller as accounts receivable.

Accounts receivable are a type of asset that appears on the balance sheet. They are classified as a current asset, indicating that they are expected to be converted to cash within a year or less. The net accounts receivable reported in the current asset section of a company's balance sheet represents all receivables expected to be collected within the next year.

To learn more about accounts receivable, visit: https://brainly.com/question/24871345

#SPJ11

According to the cultural iceberg metaphor, popular culture, which in U.S. culture includes such iconic brands as Coca-Cola, is surface level of culture.

The 10% that is experienced and has an impact on the senses is the cultural iceberg's top. These are the outward, more visible manifestations of culture, much like customs and celebrations. Thus, just a small portion of the most significant aspects of a society's culture are represented in surface layer.

The iceberg model of culture looks at a culture within the setting of an iceberg, which suggests that the hidden parts of a society's culture are what motivates the development and upkeep of the external aspects of culture. The iceberg notion of culture invites anthropologists and others to examine beyond a culture's outward manifestations and determine what social movements and philosophical assumptions have influenced the development of these outward manifestations.

Learn more about Iceberg here:

https://brainly.com/question/23171274

#SPJ4

Answer:

C

Explanation

The strategies managers employ in the workplace often dictate employee ... other hand, leaders who lack managerial skills, are a detriment to employees

Anyone who directs the actions of other workers in a corporation is functioning in a leader capacity. Hence, Option C is correct.

A leader is someone who enlivens and motivates their people. Anyone who has a vision and knows how to get there is a leader. A leader makes sure their group gets the resources and support they need to succeed.

A leader is someone who enlivens and motivates their people. Anyone who has a vision and knows how to get there is a leader. A leader makes sure their group gets the resources and support they need to succeed.

Optimistic leaders inspire. While taking the effort to advise and train staff whenever there are performance gaps, they take the time to recognise employees for a job well done.

Good leaders encourage their people to be their very best in both good and difficult situations, bringing out the best in each individual.

Therefore, Option C  is correct.

Learn more about leader from here:

https://brainly.com/question/15868646

#SPJ2

Answer:

Your answer is: C) Employee turnover

Explanation:

The Economic Order Quantity (EOQ) is a formula that helps to compute the perfect quantity of goods to order in order to minimize inventory costs.

The basic Economic Order Quantity (EOQ) model formula is a methodology for determining the optimum quantity of an item a company should order in order to minimize inventory costs while still meeting demand. The basic EOQ formula is given as: EOQ = √[(2DS) ÷ (H)] where: D = annual demand (quantity used in a year)S = cost per order (the cost of placing one order)H = holding cost per unit per year (cost to store one unit for a year)Therefore, the amount of units to be ordered when an order is placed is given by the Economic Order Quantity (EOQ) formula.

The Economic Order Quantity (EOQ) is the ideal order quantity for a company to buy in order to minimize inventory costs. EOQ is used in a variety of industries to find the optimal inventory level to order the lowest possible cost-per-order while still meeting customer demand.

To know more about optimal inventory level, visit:

https://brainly.com/question/32379978

#SPJ11

Control weaknesses increase the risk of payroll errors, inaccurate payments, and potential fraudulent activities. It also undermines the integrity and reliability of the payroll process, which can impact employee morale and trust in the company.

1. Lack of segregation of duties: The payroll clerk has the ability to update the employee master list, compile total hours worked, and enter hours into the payroll system. This lack of segregation of duties increases the risk of errors or fraudulent activities going undetected.

2. Manual time card tracking: Supervisors fill in the time cards for each day and initial them, noting the hours worked. This manual process is susceptible to errors or manipulation.

3. Lack of documentation for job classification changes: When an employee's job classification changes, there is no source documentation in their employee file. This lack of documentation increases the risk of errors or misunderstandings regarding pay rates

Recommendations to improve the weaknesses: Diamond Construction should implement the following measures:
1. Segregate duties: Assign different individuals to handle tasks such as updating the employee master list, compiling hours worked, and entering hours into the payroll system. Implement a review process to ensure accuracy and detect any errors or irregularities.

2. Implement automated time tracking: Replace manual time card tracking with an automated system that accurately records and tracks employee hours. This will reduce the risk of errors and fraudulent time entries.

3. Document job classification changes: Establish a formal process to document and communicate job classification changes. Maintain accurate records of changes in employee files and ensure that payroll calculations are based on the correct job classifications.
for more questions on  payroll

brainly.com/question/33550029

#SPJ8

Answer:

A. Review the different savings account options that your bank offers.

'If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ preemptive.

A corporation, abbreviated as co., is a legal entity, natural, legal, or a mixture of both, which is a collection of people with a specific purpose. Company members have common goals and work together to achieve specific goals.

Unlike a typical mission statement, however, a company purpose is primarily intended to describe what the company does. While outlining the company's general direction, it can also include specific aspects such as areas of focus, strategic partnerships, or target groups.

General departments include Marketing, Finance, Operations Management, Human Resources and IT. These five divisions represent major divisions within public companies, although smaller divisions often exist within independent companies.

Learn more about company https://brainly.com/question/25818989

#SPJ4

When demand or supply changes, market prices adjust, affecting incentives.

When the price of a good or service increases, buyers buy less of it and producers have the incentive to produce or sell more of it. In a market-based economy, prices act as incentives for buyers and sellers, sending signals to change their behavior.

If you can continuously increase your market share by attracting, there is an incentive to produce quality goods. The price sends a signal to the buyer. Low prices are an incentive for buyers to spend money now. Higher prices incentivize sellers to increase production to produce more goods.

Learn more about Markets incentives here:- https://brainly.com/question/29548361

#SPJ4

The implicit interest rate is used when an interest rate applies to the net lease receivable that amortizes the gross lease receivable to zero at the end of the lease term.

This refers to the interest rate that are not specifically stated in a business transaction.

This kind of interest rate applies to the net lease receivable that amortizes the gross lease receivable to zero at the end of the lease term.

Therefore, the Option D is correct.

Read more about implicit interest rate

brainly.com/question/15364115

#SPJ1

D) $212,500, The margin of safety is the amount by which sales can drop before a Corporation starts to lose money. The safety margin for Snowbird in this situation is $212,500.

The margin of safety for Snowbird is determined as follows:

Sales at the break-even threshold are calculated as follows: $312,500 / (1 - contribution margin ratio) = $250,000 / Total fixed expenditures (1 - contribution margin ratio)

Ratio of contribution: $312,50 / $250,000.

Ratio of contribution margin: 1.25

Sales - Break-even sales is the margin of safety.

Margin of safety is equal to $150,000.1/1.25.

The safety margin is $120,000.

Therefore, D) $212,500 is the right response.

The margin of safety is the amount by which sales can drop before a Corporation starts to lose money. In this instance, Snowbird has a $212,500 margin of safety, which means that even if sales fall by that much, the business will still be able to cover its fixed costs and turn a profit.

learn more about Corporation here:

https://brainly.com/question/30029715

#SPJ4

The answer is C) $80 billion. When the economy is initially at equilibrium at potential GDP of $500 billion, the aggregate expenditure (AE) line intersects the 45-degree line at point AEl.

At this point, the total spending in the economy (AE) is equal to the total output (real GDP) in the economy, which is also equal to the potential GDP.  If the MPC is 0.80 and the real GDP falls to $400 billion, then the total spending in the economy will also fall. The new AE line will intersect the 45-degree line at point AE2, which is below point AEl. The vertical distance between AEl and AE2 represents the change in total spending in the economy.
To calculate this vertical distance, we can use the formula:
Change in total spending = MPC x change in real GDP
= 0.80 x ($500 billion - $400 billion)
= 0.80 x $100 billion
= $80 billion
Therefore, the vertical distance between AEl and AE2 must be $80 billion.

To learn more about real GDP, visit:

https://brainly.com/question/29644917

#SPJ11

Answer:

An additional remark at the end of a letter, after the signature and introduced by “P.S.”.

Hope this helps :)

Answer:

580

hour × rate

80 × 7.25

With the price of firm a common stocks increased from $100 to $120 and the price of firm b common stocks decreased from $100 to $80 , the return of price-weighted index is 0%.

A price-weighted index is calculated by adding up the prices of each stock in the index and dividing by the number of stocks. The return on the price-weighted index is determined by comparing the current index value to the previous index value.

Let's say the price-weighted index consists of two stocks, firm A and firm B. Initially, the prices of firm A and firm B are $100 and $100, respectively, and the index value is ($100 + $100) ÷ 2 = $100.

After the changes, the price of firm A increases to $120 and the price of firm B decreases to $80. The current index value would be ($120 + $80) ÷ 2 = $100.

To determine the return on the price-weighted index, we can calculate the percentage change in the index value:

(($100 - $100) ÷ $100) x 100 = 0%

In this case, the return on the price-weighted index is 0%, indicating that the index value has not changed. This is because the price increase of firm A was offset by the price decrease of firm B.

To learn more about stocks click on,

https://brainly.com/question/30126379

#SPJ4

The balanced scorecard was created to address unproductive decisions that resulted from short-term and financially oriented measures.

A balanced scorecard can be defined as the strategic management performance indicator utilized to discover and enhance various internal business operations and the external consequences that flow from them.

Therefore, we can conclude that the balanced scorecard was developed to help companies avoid the counterproductive decisions that emerged from too much emphasis on short-term and financially orientated measures.

Learn more about balanced scorecard here:

https://brainly.com/question/19259487

The consumption function is given by C = 150 + 0.85(Y - T), where C represents consumption, Y represents income, and T represents taxes. According to the given information, T increases by 1 unit.

When taxes (T) increase by 1 unit, it means that households have less disposable income available for consumption. Since consumption is directly influenced by disposable income, an increase in taxes decreases disposable income and therefore reduces consumption.However, the question asks about the effect on private savings. Private savings (S) are the portion of disposable income that is not consumed, so it is the difference between income (Y) and consumption (C): S = Y - C.Since an increase in taxes decreases consumption (C), the value of S (private savings) increases. The coefficient of 0.85 in the consumption function indicates that for every unit decrease in consumption, private savings increase by 0.85 units.Therefore, when T increases by 1 unit, private savings increase by 0.85 units. This implies that for a 1 unit

in T, private savings increase by 0.85 * 0.85 = 0.15 units.

learn more about function here:

https://brainly.com/question/30721594

#SPJ11

The sales revenue would be gotten as 15 percent

To find the percentage of sales revenue that goes to the cost of sales for the XYZ company, we need to calculate the total cost of sales, which would include the cost of goods sold as well as any other direct costs associated with generating the sales, such as commissions paid to salespeople.

In this case, the cost of sales would be:

$45,000 (base salary for each salesperson) x 8 (number of salespeople) = $360,000 (total base salary for sales team)

$3,000,000 (total sales) x 2% (commission rate) = $60,000 (total commission paid to sales team)

$360,000 + $60,000 + $30,000 (bonuses) = $450,000 (total cost of sales)

To find the percentage of sales revenue that goes to the cost of sales, we divide the total cost of sales by the total sales revenue and multiply by 100:

$450,000 / $3,000,000 x 100 = 15%

So, the percentage of sales revenue that goes to the cost of sales for XYZ company is 15%.

Read more on sales revenue here: https://brainly.com/question/29436143

#SPJ1

Answer:

l don't understand the question you ask

The minimax regret criterion is a decision-making approach that considers the potential regret associated with each decision. In this approach, the decision that minimizes the maximum regret is chosen.

To make a decision using this criterion, one must first identify all possible outcomes and their associated regrets for each decision. The decision that results in the lowest maximum regret is then chosen.

For example, suppose a company must decide whether to invest in a new product line. The possible outcomes include high demand and high profits, low demand and low profits, and low demand and high costs. If the company chooses not to invest, the potential regret is missing out on high profits. If they invest and demand is low, the regret is the loss of money spent on the investment.

Based on the minimax regret criterion, the decision that minimizes the maximum regret should be chosen. In this case, the company should weigh the potential regret associated with each decision and choose the option that minimizes the maximum regret.

Learn more about the minimax regret criterion:

https://brainly.com/question/29571273

#SPJ11