d) Creditors are short-term liabilities, as we usually expect to pay them over a period of a few months or less. e) All of the above. 3. An example of a liability is:* a) A bank loan. b) The tax authorities when you owe them money for tax. c) The electricity company you owe...
百度试题 结果1 题目Examples of current liabilities include (). A. loans repayable in one year B. bank overdrafts C. trade payables D. current tax payable 相关知识点: 试题来源: 解析 A,B,C,D 反馈 收藏
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Pre-tax deductions are deductions applied to an individual’s gross income, thereby decreasing the amount of wages upon which local, state, and federal taxes will be owed. In addition to income tax liabilities, pre-tax deductions also decrease a worker’s required contributions to Medicare andSoc...
2. Types of Financial Statements with Financial Statements Examples The balance sheet offers insights into the enterprise’s financial condition on a specific date (monthly,quarterly report, annually).It encompasses three crucial aspects: assets, liabilities, and owner’s equity, adhering to the balanc...
This can include money that is owed for goods or services that have been received (such as Accounts Payable), money that is owed for loans or other debts (such as Notes Payable), or taxes that are owed to the government (such as Income Tax Liabilities). Short-term liabilities refer to ...
For example, a small business has a debt to asset ratio of 45 percent. This means that 45 percent of every dollar of its assets is financed by borrowed money.To calculate this ratio, use this formula:Total Liabilities / Total Assets = Debt to Assets Ratio...
Deferred tax liabilities Pension liabilities Lease liabilities3. Shareholders equityStockholder (or shareholder) equity is the value of the business after all debts and liabilities have been settled. It will always equal assets minus liabilities.The...
therefore,tax liabilities. Tax shelters are legal, and can range from investments or investment accounts that provide favorable tax treatment, to activities or transactions that lower taxable income through deductions or credits. Common examples of tax shelter are employer-...
A tax umbrella is a finance strategy used by companies to reduce their tax liabilities on future profits. This strategy allows businesses to use their past losses to offset taxable profits in future years, which can reduce their tax burden. Tax umbrellas can be particularly beneficial for companie...