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please answer all the questions immediately thankyou Required 1. Penalizes individuals and businesses for late filing of returns and for deficient payment of taxes. *
please answer all the questions immediately thankyou
Required 1. Penalizes individuals and businesses for late filing of returns and for deficient payment of taxes. * (1 Point) Investors O Customer O Lender Manager Government 2. These are resources controlled by the entity as a result of past transactions or events and from which future economic benefits are expected to flow to the entity. (1 Point) Assets Equity O Liabilities thing O Income 3. The enhancing qualitative characteristics of financial information are * (1 Point) Comparability, understandability and verifiability Comparability, understandability, verifiability and timeliness Comparability and understandability O Verifiability and timeliness N * 4. Which underlying concept serves as the basis for preparing the financial statements at regular intervals? (1 Point) Accounting period O Going concern Accounting entity Stable monetary unit 5. The "communicating" process of accounting includes all of the following, except* (1 Point) Summarizing Classifying Recording I O Interpreting 6. Which of the following enhances the usefulness of financial information? (1 Point) Time period Accounting entity Going concern VerifiabilityStep by Step Solution
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