Taxable income is The amount of your income, after it has been reduced by exemptions, deductions, and credits, that is used to calculate the tax you owe.
The given statement " The Benchmark Prediction estimates unit sales assuming your product competes with a standardized, mediocre playing field. It does not use your actual competitors products. It is useful for experimenting with price, promo and sales budgets. It is useless for forecasting " is TRUE.
Explanation:
The Benchmark Prediction predicts unit sales if your company is in competition with a normal mediocre sector. It doesn't use the goods of your current competitors. This is useful for testing the budgets for prices, promotions and sales. For analysis, it is unnecessary.
Benchmark prediction somehow provides you with the idea whether decisions are good or not. Any choices in R&D and the benchmark prediction go down and make bad choices if they go up and go well for you.
Answer:
violates ethical, but not legal, standards.
Explanation:
Sherman act was created to prohibit restrains on trade of any collusion by different parties to form a monopoly or control price.
The act does not however prohibit all restraints of trade, bit rather those that are very unreasonable and harmful to competition.
In the given scenario the three companies only agreed to bid lowest for the 3 project under consideration.
Their action does not give them unfair advantage over other firms and may even lead to a loss on their part.
They do not have a strategy that will guarantee an edge over other firms.
So this is an ethical violation but not a legal one.
Answer: It has impacted the environment in a negative way.
Explanation: This type of culture has negatively impacted the environment since nowadays a series of objects are created with various natural resources in order for people to use them but get rid of them once and for all. This is bad for the planet as several of these objects take time to break down and end up becoming harmful to the environment.
Answer:
Adjusted basis of the 2 plots is $7000
Explanation:
The correct question is as follows;
Determine the Adjusted basis
Rufus owns 12 acres of land he purchased as an investment for $5,000. He spent an additional $37,000 subdividing the land into residential parcels and having utility
lines run to the property. After the subdividing and utility lines had been completed, he gifted two acres of the land to his sister as a wedding present.
Solution
In this question, we are to determine the adjusted basis of land
Please check attachment for table
Kindly note that the basics of 1 acre of land before gifting is $3,500 ($42,000/12). This means the basis of gifted property of two acres is $7000($3,500 * 2)
