which of the following are considered start-up costs for tax purposes? (select all that apply.) multiple select question. preoperational costs of a new business local business registration fees accounting costs to set up books and records for a new business costs of investigating the purchase of a business

The correct answer to the given question is option (d) $5,700. The CCA class of Gordon's both rental properties is 1. It means that the maximum CCA rate is 4%. But here, the prescribed rate was 6% for the first two quarters of the last year and 5% for the last two quarters of the last year. As per this given data, we can calculate the CCA for the rental properties of Gordon.

As given, Gordon had a full-time job as a sales manager for a meat wholesaler. The given salary of Gordon was $85,000 last year. His bonus on March 31st of this year was $10,000 based on his excellent performance last year. Gordon is a member of his employer's defined-benefit pension plan, and he is required to contribute 5% of his base salary to the plan each year. The calculation of taxable benefits is as follows:

Calculation of the taxable benefit of GordonRental income from 1st rental property= $1,300/month × 11 months= $14,300

Rental expenses of 1st rental property= $5,780

Add: Interest on the loan= $3,600Total rental expenses= $9,380

Net rental income from 1st rental property= $14,300 - $9,380= $4,920

Rental income from 2nd rental property= $1,200/month × 1 month= $1,200

Rental expenses of 2nd rental property= $1,400 + $500 + $400

Add: Interest on the loan= $3,640Total rental expenses= $5,940

Net rental income from 2nd rental property= $1,200 - $5,940= -$4,740

Here, we can see that the second rental property has a loss of $4,740. Now, we will calculate the CCA of the rental properties of Gordon.

Calculation of the CCA of Gordon's rental properties: The building was valued at $80,000, and the land was valued at $40,000.

Therefore, the Capital cost of the 1st rental property= $80,000+ $40,000= $120,000.  

Maximum CCA rate= 4%.

Prescribed rate for the first two quarters of last year= 6%

Prescribed rate for the last two quarters of last year= 5%.

Calculation of CCA on the 1st rental property:

For the first two quarters of last year= 6% × ½ × $120,000= $3,600

For the last two quarters of last year= 5% × ½ × $120,000= $3,000

Total CCA on the 1st rental property= $3,600 + $3,000= $6,600

The building was valued at $88,000, and the land was valued at $42,000.

Therefore, the Capital cost of the 2nd rental property= $88,000+ $42,000= $130,000.

Calculation of CCA on the 2nd rental property: For the last two quarters of last year= 5% × ½ × $130,000= $3,250

Total taxable benefits of Gordon are as follows:

Net rental income from 1st rental property= $4,920

Net rental income from 2nd rental property= -$4,740

Total net rental income= $180

CCA on 1st rental property= $6,600

CCA on 2nd rental property= $3,250

Total taxable benefits= Net rental income + CCA= $180 + $6,600 + $3,250= $10,030

Less: Interest on the loan= $3,600

Taxable benefits= $10,030 - $3,600= $5,430

Therefore, the taxable benefit of Gordon as a result of the loan he obtained from his employer last year is $5,700. Hence, option (d) is correct.

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Answer:

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

Explanation:

The firm should continue to produce as long as the marginal revenue (MR) is greater than the marginal cost (MC). In this case, the firm should continue to produce until quantity 5, where MR = MC. Beyond that point, the firm should stop production as it will incur losses.

To calculate the marginal revenue (MR) and marginal cost (MC), we need to use the formula:

MR = ΔTR/ΔQ
MC = ΔTC/ΔQ

where TR is total revenue, TC is total cost, and Q is quantity.

Using the table provided, we can calculate the changes in TR and TC as quantity increases from 0 to 7:

quantity    tc    mc    tr    mr
0          144    -      -     -
1          160    16   90    90
2          170    10   160   70
3          194    24   210   50
4          222    28   240   30
5          260    38   250   10
6          315    55   240   -10
7          375    60   210   -30

We can see that as quantity increases, both TC and TR increase. The marginal cost (MC) is calculated by dividing the change in TC by the change in quantity:

MC(1) = (160-144)/(1-0) = 16
MC(2) = (170-160)/(2-1) = 10
MC(3) = (194-170)/(3-2) = 24
MC(4) = (222-194)/(4-3) = 28
MC(5) = (260-222)/(5-4) = 38
MC(6) = (315-260)/(6-5) = 55
MC(7) = (375-315)/(7-6) = 60

The marginal cost (MC) increases as quantity increases, which indicates that there are diminishing returns to production.

The marginal revenue (MR) is calculated by dividing the change in TR by the change in quantity:

MR(1) = (90-0)/(1-0) = 90
MR(2) = (160-90)/(2-1) = 70
MR(3) = (210-160)/(3-2) = 50
MR(4) = (240-210)/(4-3) = 30
MR(5) = (250-240)/(5-4) = 10
MR(6) = (240-250)/(6-5) = -10
MR(7) = (210-240)/(7-6) = -30

The marginal revenue (MR) initially decreases as quantity increases, but then becomes negative after quantity 5. This indicates that the firm is facing diminishing marginal returns and that it is no longer profitable to produce beyond quantity 5.

Overall, the firm should continue to produce as long as the marginal revenue (MR) is greater than the marginal cost (MC). In this case, the firm should continue to produce until quantity 5, where MR = MC. Beyond that point, the firm should stop production as it will incur losses.

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The NPV is positive, this project is expected to generate a return higher than the required 15% rate of return. Therefore, it would be a good investment.

To calculate the NPV of this project, we first need to determine the present value of the annual cash flows. Using a financial calculator or spreadsheet, we can input the following information:

- N = 6 (number of years)
- I/Y = 15% (required return)
- PMT = $22,000 (annual cash flow)
- FV = 0 (final value)

This calculation gives us a present value of $91,838.69 for the cash flows.

Next, we need to subtract the initial cost of the project, $62,000, from the present value of the cash flows. This gives us the NPV:

NPV = -$62,000 + $91,838.69 = $29,838.69

Since the NPV is positive, this project is expected to generate a return higher than the required 15% rate of return. Therefore, it would be a good investment.

It's important to note that the NPV calculation takes into account the time value of money, which means that cash flows received in the future are discounted at the required rate of return to reflect their present value. This helps us to compare investments with different timing and amounts of cash flows.

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The advantage of distribution channels is that they make it simpler for us to buy goods from around the globe. Option A is correct.

Distribution channels are the routes that goods and services follow from the producer or supplier of the service to the final customer. Channels of distribution are crucial to organizations because they enable efficient delivery of products or services to clients.

Unhappy consumers and subpar service delivery may result from a company's failure to choose the optimal group of enterprises for this purpose. Distribution channels have the benefit of making it easier for us to purchase items from around the world.  

Therefore, option A is  correct.

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Answer:

dwddddd

Explanation:

As occupancy decreases, hotel managers should generally expect a decrease in revenue and profitability.

When the occupancy of a hotel decreases, it means that fewer rooms are being booked and utilized by guests. As a result, the hotel's revenue generated from room bookings and other services will decrease. With fewer guests, there will be fewer sources of income, such as room rates, food and beverage sales, and other amenities provided by the hotel. This reduction in revenue can have a direct impact on the hotel's profitability and financial performance.

A decrease in occupancy also affects the hotel's operational costs. The hotel still needs to maintain its facilities, pay staff wages, and cover other fixed expenses, regardless of the number of guests staying.

In response to declining occupancy, hotel managers may need to implement strategies to attract more guests, such as adjusting room rates, offering promotional packages, or implementing marketing campaigns. They may also need to closely manage expenses and find ways to optimize operational efficiency to mitigate the impact of decreased occupancy on the hotel's financial performance.

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Answer:

Showing results for provide a definition of GAAP

Search instead for provide a defination of GAAP

मराठी मध्ये शोधा

gaap व्याख्या प्रदान

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Generally accepted accounting principles, or GAAP, are a set of rules that encompass the details, complexities, and legalities of business and corporate accounting. The Financial Accounting Standards Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practices.

An invoice number is a unique number in chronological order without any breaks. There can be separate series for different invoices. The invoice must have the date on which service is provided to the client.

Answer:

d

Explanation:

Markets function properly when consumers and corporations are both protected. Consumers must have access to reliable, unbiased information about the goods and services they choose to buy.

A consumer is a person or a group that is not directly involved in entrepreneurial or business operations and who intends to order or uses purchased items, products, or services primarily for personal, social, family, or household needs.

The phrase is most frequently used to describe someone who makes purchases for their own use. A consumer in an economy purchases goods or services primarily for personal use rather than for resale or for commercial objectives.

The price that consumers pay for the goods or services is followed by consumption. As a result, consumers are an essential component of any economy and play a crucial role in the economic system of a capitalist society.

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Answer:

Day 5

Explanation:

Calculation of the latest start

Using this formula

Latest start = Activity's latest finish time-Activity's estimated duration

Where,

Latest Finish time= Day 7

Estimated Duration= 2 days

Let plug in the formula

Latest start= Day 7- 2 days

Latest start = Day 5

Therefore the latest start for Task B will be Day 5

Answer: i would say he is being aggressive towards the guy

Explanation:

Year 1: Depreciation Expense = ($222,000 - $21,000) / 12,000 * 12,700, Accumulated Depreciation = ($222,000 - $21,000) / 12,000 * 12,700

Year 2: Depreciation Expense = ($222,000 - $21,000) / 12,000 * 12,000, Accumulated Depreciation = Accumulated Depreciation Year 1 + (($222,000 - $21,000) / 12,000 * 9,500)

Depreciation Schedule for University Car Wash's Deluxe Car Wash Equipment (Straight-line Method):

Year | Hours Used | Total Hours | Depreciation Expense | Accumulated Depreciation | Book Value

-----|------------|-------------|------------------------|-----------------------------|---------------

1    | 12,700     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,700 | ($222,000 - $21,000) / 12,000 * 12,700 | $202,525

2    | 21,500     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,000 | Accumulated Depreciation Year 1 + (($222,000 - $21,000) / 12,000 * 9,500) | $172,025

3    | 31,600     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,000 | Accumulated Depreciation Year 2 + (($222,000 - $21,000) / 12,000 * 10,600) | $141,525

4    | 42,400     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,000 | Accumulated Depreciation Year 3 + (($222,000 - $21,000) / 12,000 * 10,800) | $111,025

5    | 52,200     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,000 | Accumulated Depreciation Year 4 + (($222,000 - $21,000) / 12,000 * 9,800) | $80,525

6    | 61,600     | 12,000      | ($222,000 - $21,000) / 12,000 * 12,000 | Accumulated Depreciation Year 5 + (($222,000 - $21,000) / 12,000 * 9,600) | $50,025

Note: The depreciation expense per year is calculated by taking the cost of the equipment ($222,000) minus the estimated residual value ($21,000) and dividing it by the total estimated hours of use (12,000 hours). The accumulated depreciation is the sum of the depreciation expenses from previous years, and the book value is calculated by subtracting the accumulated depreciation from the initial cost of the equipment.

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Answer:

option A is correct.

i.e.

each person in the interview.

Explanation:

Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.

We can actually deduce here that matching each description from the RIASEC inventory with the correct title, we have:

1. A. Independent and practical - Realistic

2. B. Logical and observant - Investigative

3. C. Creative and expressive - Artistic

4. F. Want to inspire, inform, train, and help others - Social

5. D. Prefer to influence, persuade and lead people - Enterprising

6. E. Organized, efficient and methodical - Conventional.

RIASEC is actually known to be an acronym for Realistic, Investigative, Artistic, Social, Enterprising, and Conventional. These are six personality types that was identified by Dr. John Holland.

According to John Holland's theory, he believes that most people are one of six personality types which refers to being Realistic, Investigative, Artistic, Social, Enterprising, or Conventional.

Thus, we see that those that are:

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Answer:

b) Define the question

Explanation:

The following are the steps of the market research:

1. Problem identification: It involves the problem for solving, obejectives of the problem, and the questions related to research

2. Creation of the research plan: It includes The information i.e. required, methods of research, the parties that are responsible

3. Research conducting: It includes The review of the secondary data, the collection of the primary data, and the methods and techniques applied

4. Analyze and report the findings: It includes Analyzing the data, results interpretation, and report & suggestions

5. Actions taken: It includes the Planning, evaluation, and execution

Therefore the option B is correct

Providing facts that help decision makers' aspect of writing business reports relates to the component of credibility known as competence.

Competence is the capacity to perform an action successfully. You have the ability to complete a task or job successfully. The knowledge and abilities required to solve a quadratic equation are examples of competence. Alternately, it could include the considerably more extensive and varied sets of talents required to run a multinational organization.

The objective and subjective aspects of a source's or message's plausibility are included in credibility. The concept of "Ethos" is concerned with the speaker's persona.

Trustworthiness and expertise, which both have objective and subjective components, are the two main components of credibility. Although established reliability is an objective criterion, trustworthiness is primarily based on subjective criteria.

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Answer:

Take inventory of all existing equipment and supplies. ...

Step out of the stand and view it from the outside. ...

Mentally walk through a transaction involving each type of menu item you sell. ...

Consider the customer's need for counter space.

Explanation:

Brainliest

Answer:

Truth in advertising laws

Explanation:

Because of the Truth in advertising laws, this law requires that you don't bend the truth and to speak honestly about your products, in order to prevent potential harm. What I mean is that you can't say that eating your company's tires will cure cancer without any evidence to support this, because if people were to do that, they could actually form cancer or even die. The federal law says that companies and their ads must be truthful and not misleading.

The reason why buying a car considered "bad debt"is that It decreases in value over time. option A

The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books,  then things turn to uncollectible and is recorded as a charge-off.

It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases  interest charges increase how the amount that is been paid for the vehicle.  and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.

Hence, option A is correct.

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Answer:

The country most likely utilizes a free market economy.

Explanation:

A free market economy is characterized by the price system: in this system, prices signal economic activity in order to coordinate the forces of supply and demand in order to reach a market equilibrium.

In a free market economy, competition is stiff because firms can freely enter and exit the markets, and this also influences the price of goods and services.

Firms try to out-compete other firms by improving production processes, innovating, and lowering costs.

Answer: $150,000

Explanation:

It should be noted that when an individual sells a personal residence, there's an exclusion of $250,000 on th capital gains tax.

Therefore, the amount that will be paid for capital gain tax will be:

Sales price = $750,000

Less: Cost price = $150,000

Less: Improvements = $150,000

Less: Selling expenses = $50,000

Less: Exclusion = $250,000

Capital gain tax = $150,000

Based on the above calculation, the capital gain tax is $150,000.

True, the Statute of Frauds operates as a defense to the enforcement of an oral contract for the sale of land. It generally requires certain types of contracts, including those involving the sale of land, to be in writing and signed by the parties in order to be enforceable.

One of the types of contracts covered by the Statute of Frauds is a contract for the sale of land or real property. In general, an oral contract for the sale of land is not enforceable under the Statute of Frauds, which requires that such contracts be in writing and signed by the parties. This means that if there is no written agreement, the contract is not legally binding and cannot be enforced in court. However, there are some exceptions to the Statute of Frauds requirement for written contracts, such as if one party has partially performed under the oral agreement or if there is evidence of part performance or detrimental reliance. But as a general rule, an oral contract for the sale of land is not enforceable under the Statute of Frauds.

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True. The Statute of Fraud is a legal concept that requires certain types of contracts to be in writing in order to be enforceable.

One of the contracts covered by the statute is a contract for the sale of land. Under the statute, an oral contract for the sale of land is not enforceable, and any attempt to enforce such a contract can be defeated by the defense of the Statute of Fraud.

The purpose of the Statute of Frauds is to prevent fraud and deception in the formation of certain types of contracts. By requiring certain contracts to be in writing and signed by the parties, the statute helps to ensure that there is clear evidence of the terms of the contract and the intention of the parties. This helps to prevent misunderstandings and disputes over the terms of the contract.

In summary, the statement in the question is true. The Statute of Frauds operates as a defense against the enforcement of an oral contract for the sale of land.

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In an economic slowdown, Keynesian economic policy would advocate increasing government spending.

Keynesian economics is an economic theory developed by economist John Maynard Keynes, which suggests that during periods of economic downturn or recession, government intervention through fiscal policies can help stimulate economic growth and stabilize the economy. According to Keynesian theory, increasing government spending is one of the key policy measures that can be implemented to counteract the negative effects of an economic slowdown.

By increasing government spending, the theory posits that the aggregate demand in the economy will rise. This increased demand can lead to increased production, job creation, and overall economic activity. The idea is that government spending can fill the gap left by reduced private sector spending and investment during an economic slowdown, providing a boost to the economy.

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