15. A loss in a business occurs when: * sales exceeds expense
expense exceed sales
the business loses assets

17. Preparing the business accounts and reports in a formal way to present to the boss is part of the process. *

summarising
communicating
classifying

Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.) (do not round intermediate calculations. round your answers to 2 decimal places.)

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?

Because the demand for wheat tends to be inelastic. true or false