If a taxpayer's AGI is greater than $150,000, no penalty will be imposed if the taxpayer pays estimated tax payments in 2018 equal to what percentage of 2017's income tax liability?
A. 120%
B. 110%
C. 90%
D. 100%
Answer: B
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The static budget, at the beginning of the month, for Wadsworth Company follows:
Static budget: Sales volume: 2000 units; Sales price: $50.00 per unit Variable costs: $14.00 per unit; Fixed costs: $25,100 per month Operating income: $46,900 Actual results, at the end of the month, follows: Actual results: Sales volume: 1900 units; Sales price: $58.00 per unit Variable costs: $16.5 per unit; Fixed costs: $34,000 per month Operating income: $44,850 Calculate the flexible budget variance for operating income. A) $3600 U B) $3600 F C) $1550 F D) $15,200 F
U.S. GAAP and IFRS require firms to recognize as assets identifiable intangibles acquired in external market transactions. Which of the following is/are not true?
a. The exchange between an independent buyer and seller provides evidence of the existence of expected future benefits, and the exchange price provides evidence of the fair value of those benefits. b. In external market transactions, identifiable intangibles include patents, trademarks, customer lists, and other economic resources ready for use, as well as in-process technologies with uncertain future benefits. c. In external market transactions, identifiable intangible assets have either finite lives or indefinite lives. d. In external market transactions, firms must amortize intangible assets with finite lives, generally using the straight-line method. e. all of the above
__________is a business's concern for the long-range welfare of both the company and its relationships to the society within which it operates
Fill in the blanks with correct word.
The base amount for a common-size balance sheet is usually total assets.
Answer the following statement true (T) or false (F)