Awtis Corporation has a margin of safety percentage of 25% based on its actual sales. The break-even point is $296,400 and the variable expenses are 45% of sales. Given this information, the actual profit is: Multiple Choice $79,040 0 $54,340 $14,820 $40,755
Which of the following is not an acceptable method of determining the required annual payment of federal income tax for corporations? A) 100 percent of the prior year's tax liability (with a few exceptions) B) 100 percent of the current year's tax liability C) 100 percent of the estimated current year tax liability using the annualized income method D) All of the choices are acceptable methods of determining the required annual payment of federal income tax for corporations. Explain. Explain.
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