Constructive dividends - Study guides, Class notes & Summaries

How is revenue treated that is receivable 2 years after the goods are delivered? The amount of revenue initially recognised is the amount receivable discounted to present value. Interst is then applied to the receivable as interest income over 2 years IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? Fair value with changes going through profit or loss What are acceptable methods of accounting for a g...

CTFA - Fiduciary & Trust Activities Questions with complete Answers 2023 Constructive Trusts A fraud rectifying trust, imposed by a court to protect those who lose property to a wrongdoer Resulting Trust An intent enforcing trust based upon the presumed intent of a transferor of property Implied Trust An implied trust is an element of trust law, and refers to a trust that has not been "expressly created by the settlor."[1] There are two types of implied trust: Construc...

Tax Extensions - correct answers Automatic 6 months - does not extend due date for tax payment Statute of Limitations on Regular Tax Returns - correct answers 3 years from the later of >(1) the date the tax return was actually filed or >(2) the tax return's original due date Extended Statute of Limitations - correct answers >SIX YEAR STATUTE OF LIMITATION - if taxpayer omits items of gross income that exceeds 25% of gross income WGU C237 Tax 1 Exam Questions and Answers (Lates...

1 ALL PRACTICE EXAM QUESTIONS - LIFE, ACCIDENT AND SICKNESS - GA STATE LICENSE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ How much participation does a Noncontributory plan require? Correct Answer: 100% The insured hands control of the policy to another person (usually the agent) Correct Answer: constructive delivery Filing a request with the insurer - Recording Method, or by endorsement Correct Answer: beneficiary change can be made by doing what? The app...

AWMA Test Review 1 Questions with Correct Answers If ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, what is its taxable income? A. $0 B. $25,000 C. $50,000 D. $100,000 - Answer-The net profits of a corporation are subject to federal income taxation. This tax is levied on corporate taxable income before payment of dividends to common and preferred shareholders. Thus, if ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends,...

QUESTION 1 1.1 Discuss the meaning of the term “ubuntu”. Ubuntu is an African indigenous philosophy that is the measure of human behaviour. It is the ideal to live life selflessly and to make sacrifices for others who, in turn, will live selflessly. It places the well-being of the individual in all transactions. It is similar to the audi alteram partem rule, which means that both sides of the story must be heard. Ubuntu is attributed to co...

Each year the South-Western Federal Taxation series is updated with thousands of changes to each text. Some of these changes result from the feedback we receive from instructors and students in the form of reviews, focus groups, web surveys, and personal e-mail correspondence to our authors and team members. Other changes come from our careful analysis of the evolving tax environment. We make sure that every tax law change relevant to the introductory taxation course was considered, sum...

California Insurance Exam 516 Questions with Answers Latest 2023 Two methods of determining insurance need:CORRECT ANSWER - Human Life Approach - Needs Approach Human Life Value Approach~CORRECT ANSWER - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on age, gender, p...

AWMA Test Review 1 Questions With Correct Answers If ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, what is its taxable income? A. $0 B. $25,000 C. $50,000 D. $100,000 - answerThe net profits of a corporation are subject to federal income taxation. This tax is levied on corporate taxable income before payment of dividends to common and preferred shareholders. Thus, if ABC Corporation has net profits of $100,000 and distributes $50,000 as dividends, it...

Abandonment - Answers The failure to occupy and use property that may result in loss of rights Abatement of Nuisance - Answers Extinction or termination of a nuisance Abstract of Judgement - Answers A condensation of the essential provisions of a court judgement Abstract of Title - Answers A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record wh...