Listed below are 10 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the most correct term. - Produces future taxable amounts or future deductible amounts. - Will generate a refund of taxes paid in prior years. - Is the process of allocating income taxes among two or more reporting periods. - Is reduced by a valuation allowance if realization of future tax benefit is not more likely than not. - Arises when future taxable amounts are created by temporary differences. - Will always create a deferred tax asset. - Is a process of allocating income tax expense among income from continuing operations. - A "plug" for the net effect of the current tax liability and changes in deferred tax assets and liabilities. - Is the basis for computing the tax liability for taxes currently payable. - No tax consequences. A. Taxable income B. Deferred tax asset C. Deferred tax liability D. Operating loss carryforward E. Income tax expense F. Temporary difference G. Operating loss carryback H. Permanent difference I. Intraperiod tax allocation J. Interperiod tax allocation

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided