Accrued Study guides, Class notes & Summaries

LML4804 Assignment 1. Name: Ntokozo Ronald Mabuya Student Num: Unique code: Module: LML4804 Question 1 A. Section 1 of the Income Tax Act defines gross income. Gross income in relation to any year or period of assessment, means: in the case of any resident the total amount in cash, received by or accrued to in favour of such resident during such year or period of assessment. In the case of any other person other than a resident the total amount in cash or otherwise, received by or ac...

CFA Level 1 Financial Statement Analysis 44 Questions with Answers Income statement - CORRECT ANSWER A financial statement that provides information about a company's profitability over a stated period of time. Also called statement of operations or profit and loss statement. Revenue - Expenses = Net income or loss Liquidity - CORRECT ANSWER The ability to purchase or sell an asset quickly and easily at a price close to fair market value. The ability to meet short-term obligations u...

The goal of a corporation is to? - Answer- Maximize the stock price What are some requirements for a competitive market? - Answer- Competitive market, transparency and liquidity What is the relationship between risk and required return? - Answer- Higher risk causes higher required return The value of money depends on? - Answer- Timing, certainty and riskiness of receipt What is the purposed of the SEC 10 - k filing? - Answer- Promote transparency and market efficiency Examples of ...

CFCM Study Guide- FULL TEST new exam update solved solution guide with actual questions and answers Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copy...

Trading Comps Modeling Wall Street Prep exam Assets - CORRECT ANSWER-resources a company uses to operate its business includes cash, A/R, PP&E Liabilities - CORRECT ANSWER-represents the company's contractual obligations and includes A/P, debt, accrued expenses Shareholder's equity - CORRECT ANSWER-is the residual the value of the business available to the owners (shareholders) after debts have been paid off Income statement - CORRECT ANSWER-illustrates the profitability of the company o...

OLERE Exam Questions and answers 2023 Supervised experience hours shall be accrued in private practice if: LPC candidate is an employee. LPC supervisor is not required to work at same location. What must an LPC submit if services with client are terminated? Termination of services form within 3 business days. How long is an LPC required to keep records after termination of services? 5 years How long must an LPC wait if their license is revoked before reapplying? 5 year...

Peregrine Exam(question with correct answers 100%)2023 updatedWhat is a general ledger? - correct answer A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Tr...

Assets - CORRECT ANS resources a company uses to operate its business includes cash, A/R, PP&E Liabilities - CORRECT ANS represents the company's contractual obligations and includes A/P, debt, accrued expenses Shareholder's equity - CORRECT ANS is the residual the value of the business available to the owners (shareholders) after debts have been paid off Income statement - CORRECT ANS illustrates the profitability of the company over a specified period of time broad sense: shows reve...

GAAP Generally Accepted Accounting Principles. The standards and rules that accountants follow while recording and reporting financial activities. It encompasses the procedures accepted in the accounting process. IASB International Accounting Standards Board. They actively develop and issue accounting standards that will to be followed internationally. Its purpose is to narrow down the differences in the world when preparing a financial statement. Conceptual Framework of Financia...

TAX1501-Taxation Of Salaried Persons LATEST EXAM PACK .QUESTION 1 PART 1 R R Salary 450 000 Bonus 150 000 Local dividends 15 500 Less: Exemption (15 000) 0 Foreign interest 34 000 634 000 Less: Retirement contribution Actual contribution: R120 000 Step 1: Calculate the percentage limit 27.5% of the greater of remuneration or taxable before this deduction -Remuneration: R450 000 + R150 000 = R600 000 -Taxable income: R634 000 The greater of the two amount is the taxable incom...