How do the profits of a single business benefit society in general?
What will be an ideal response?
A successful business benefits society by providing the goods and services we need and want. Businesses also provide employment opportunities for members of the community. Because they offer desired goods and services, provide employment, and generate income and spending in the economy, successful businesses contribute to the quality of life by creating higher standards of living for the entire society.
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The income tax benefit associated with a loss carryback or carryforward is recorded as an adjustment to income tax expense in the year of the loss.
Answer the following statement true (T) or false (F)
Generally, large samples are desirable in social media research
Indicate whether the statement is true or false
The use of equity reserves under international accounting standards
a. is strictly voluntary on the part of the management of a company. b. is based on whether a reserve is part of distributable or nondistributable equity. c. is primarily for the benefit of shareholders rather than creditors. d. results in the elimination of the retained earnings category from the total equity of a company.
Since the percentage-of-sales method assumes that all the form's costs and expenses are variable, it tends to understate profits when sales are increasing and overstate profits when sales are decreasing
Indicate whether the statement is true or false