Which of the following sales of an Asset would cause a tax liability? Group of answer...
Which of the following sales of an Asset would cause a tax liability?
Group of answer choices
Assets greater than Book Value.
Assets equal to Book Value.
Assets less than Book Value.
Assets great than Liabilities.
Homework Answers
Correct option is Assets greater than book value.
Explanation:- when at the time of sale ,value of asset is greater than book value and hence we will have capital gain and hence there will be tax liability on capital gain
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Which of the following sales of an Asset would cause a tax
liability?
Group of answer...
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Question 9 Which of the following results in a deferred tax asset? • Operating loss or...
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Which one of the following is defined as anything a firm owns that has value? asset...
Which one of the following is defined as anything a firm owns that has value? asset cash outflow equity liability cash inflow QUESTION 8 A firm has total equity of $61,600 and total liabilities of $18,900. Current assets are $44,700 and current liabilities are $15,200. What is the value of the net fixed assets? $10,600 $35,800 $8,300 $29,500 $42,700 QUESTION 9 Which one of the following represents the amounts owed by a firm to other parties? assets liabilities equities cash...
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Which of the following is a characteristic specific to an operating lease? Group of answer choices...
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Question 9 Which of the following results in a deferred tax asset? • Operating loss or tax credit carryforwards exist. Tax basis of an asset is less than its book. Revenue or gains are recognized earlier for book purposes than for tax purposes. Expenses are deductible earlier for tax purposes than for book purposes.
Which one of the following is defined as anything a firm owns that has value? asset cash outflow equity liability cash inflow QUESTION 8 A firm has total equity of $61,600 and total liabilities of $18,900. Current assets are $44,700 and current liabilities are $15,200. What is the value of the net fixed assets? $10,600 $35,800 $8,300 $29,500 $42,700 QUESTION 9 Which one of the following represents the amounts owed by a firm to other parties? assets liabilities equities cash...
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