Tax prep basic - Study guides, Class notes & Summaries

Wall Street Prep Exam Questions and Answers 2024 Do companies prefer straight-line or accelerated depreciation? For GAAP reporting purposes, companies generally prefer straight-line depreciation. That's because a company will record lower depreciation in the early years of the asset's life than if they had used accelerated depreciation. As a result, companies using straight-line depreciation will show higher net income than under accelerated depreciation. Do companies depreciate land? ...

Nevada Life and Health License Exam Prep Questions With Complete Solutions(Guaranteed Success)Already Passed!!! What are the four required elements of an insurance contract? - correct answer...Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - correct answer...General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. Whe...

Gleim's CPA Test Prep Auditing [1] Which of the following is required documentation in an audit in accordance with generally accepted auditing standards? A. A flowchart or narrative of the accounting system describing the recording and classification of transactions for financial reporting. B. An audit program setting forth in detail the procedures necessary to accomplish the engagement's objectives. C. A planning memorandum establishing the timing of the audit procedures and coordinating the ...

Accounting Crash Course - Wall Street Prep Net Revenues - ANSWER--Total dollar payment for goods and services that are credited to an income statement over a particular time period Cost of Goods Sold (COGS) - ANSWER--represents a company's direct cost of manufacture or procurement of. a good or service that the company sells to generate revenue. Gross Profit - ANSWER-Revenues - Cost of Goods Sold (COGS) Selling, General & Administrative (SG&A) - ANSWER--Operating costs not directly associated...

TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP Health insurance coverage under COBRA, HIPAA guarantees that the person will - correct answer Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - correct answer The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent or producer legally to both the ...

Wall Street Prep Questions and Answers Graded A+ Do companies prefer straight-line or accelerated depreciation? For GAAP reporting purposes, companies generally prefer straight-line depreciation. That's because a company will record lower depreciation in the early years of the asset's life than if they had used accelerated depreciation. As a result, companies using straight-line depreciation will show higher net income than under accelerated depreciation. Do companies depreciate land? No, la...

LEVERAGE BUYOUT (WALL STREET PREP) QUESTIONS AND CORRECT VERIFIED NSWERS 2023/2024 GRADED A+. 2 / 22 1. What is a leveraged buyout (LBO)?: In a leveraged buyout, a private equity firm(often called the financial sponsor) acquires a company with most of the purchase price being funded through the use of various debt instrumentssuch asloans, bonds.The financial sponsor will secure the financing package ahead of the closing of thetransaction and then contribute the remaining amount. Once th...

Fire Officer III Exam Prep fourth edition already passed the minimum staff required to respond on a fire apparatus for a suburban fire department according to NFPA 1710 is 4 which is correct regarding the change process it should be viewed as cyclical rather than linear the theory that depends on the community to express its needs, wants, and expectations is system theory the first step in the problem solving process is to define the problem which leadership theory states the leader uses va...

ACCOUNTING CRASH COURSE - WALL STREET PREP QUESTIONS AND COMPLETE SOLUTIONS UPDATED AND VERIFEID Net Revenues -Total dollar payment for goods and services that are credited to an income statement over a particular time period Cost of Goods Sold (COGS) -represents a company's direct cost of manufacture or procurement of. a good or service that the company sells to generate revenue. Gross Profit Revenues - Cost of Goods Sold (COGS) Selling, General & Administrative (SG&A) -Operating cos...

TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP ACTUAL QUESTIONS AND ANSWERS Health insurance coverage under COBRA, HIPAA guarantees that the person will All the following statements about ordinary (or straight) whole life insurance are correct Which activity in NOT an error or omission that makes an agent or producer legally to both the insurance and the insure All the following statements about the taxation of annuities are correct EXEPT: Which of the following statement...