Tax prep basic - Study guides, Class notes & Summaries

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 ...

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...

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...

Medicare Health insurance for those over age 65, people under 65 with certain disabilities & those with ESRD (end stage renal disease - permanent kidney failure requiring dialysis or kidney transplant) CMS Centers for Medicare and Medicaid Services administers the Medicare program. Social Security Administration handles most of the enrollment & plays a role in claims appeal process. MAC Medicare Administrative Contractor - company contracted to administer Part A & Part B claims....

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...

1. Bobby and Sissy got married 2.5 years ago. Since that time, they have lived in Bobby's home. Sissy sold her previous home three years ago and ex- cluded her entire gain ($80,000) at that time. Bob- by and Sissy decided to move to a bigger home this year. As a result, they sold Bobby's home for $500,000 (original cost $150,000). How much of the gain from the sale is taxable? 2. T/F Gambling winnings are included in gross in- come only to the extent that the winnings exceed gambling losses...

Gold Coast 45 Hour Exam Questions (exam version H 2023) Already Passed Property managers who are employed and compensated by community associations are required to obtain and maintain which type of license? CAM What term is used for the practice of specializing in one particular residential neighborhood or type of property? Farming empty upon closing a sales transaction who pays the sales associate their contracted commission? Employing Broker Home sold for $250k with a garage, a home sold ...

Only volunteers who prepare and review tax returns are required to complete the Volunteer Standards of Conduct Training and certification. - ️️False Volunteers are generally held liable for the tax returns they prepare at VITA/TCE sites. - ️️False Volunteers are not required to complete a return if they have concerns about the accuracy of information provided by the taxpayer or other concerns. - ️️True 1. To determine if a taxpayer must file a tax return, do you need to know...

Wall Street Prep Review: Accounting & Financial Statement Analysis Exam Score: 95%, 38 correct out of 40 | Taken On: 09-10-18 Question 1 Assume US GAAP to answer this question. In 2017, $2 million in wages were earned and no cash wages were paid. In 2018, $8 million in wages were earned and $7 million in cash wages were paid. Cash wages were used to first pay wages earned in 2017 with the remainder used to pay wages earned in 2018. Any earned but unpaid wages will be paid during th...