Strategic decisions are highly structured decisions.
Answer the following statement true (T) or false (F)
False
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Colorado Company has provided you the following information:YearTaxable incomeIncome tax rate2018$390,000 35% 2019$320,000 37% 2020$400,000 40% 2021$(1,200,000) 40% Colorado has decided to use the loss carryback and carryforward provision as a result of the year 2021 loss. The enacted tax rate remains at 40% after year 2021. Colorado has determined that a valuation allowance is not necessary. Requirement:Prepare the journal entry on December 31, 2021 to record the carryback and carryforward decision.
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Establishing controls for efficiency of the payroll process is one of the main key controls for payroll. 2. Direct deposits decrease the efficiency of the payroll process because of cyber issues. 3. The Human Resources Department employees should pass out paychecks, hire employees, and fire employees. 4. If a business knows that a liability exists but does not know the exact amount, the business is unable to record the liability. 5. If a business knows that a liability exists but does not know the exact amount, the business must estimate the amount of the liability and report it on the balance sheet.
Liquidated damages:
a. are only available in some states b. need not be related to actual losses that could be suffered c. must be less than the actual losses that could be suffered d. are usually much higher than the actual losses that could be suffered e. none of the other choices are correct
Each of the following is a potential drawback of e-learning except
A) instructors must be retrained. B) knowledge retention is lower than in traditional classrooms. C) assessment issues remain to be resolved. D) protecting the intellectual property of content developers.