Answer:
The correct answer is d.The consumer does not consider the prices of the products.
Explanation:
The concept is simple. The law of supply says that the entrepreneur is willing to produce more if he can sell more, because his personal ambition for profitability leads him to this point. The law of demand says that the buyer is willing to buy at the price that he considers “fair”, and the lower it is, the more demand he will have, not only for the issue of the sense of balance between cost and benefit, but for the same income distribution: there are more people with less income.
Answer:
He can Claim a 50% deduction on the Schedule C Business Expense Deductions
Explanation:
Business Meals fall under the category of the small businesses tax deductions made available under Schedule C by the Internal Revenue Service that can small businesses can take advantage of.
- The business owner or employee must be present at the meal.
- The meal must not be extravagant under any circumstances.
- The meal must be an ordinary and necessary part of carrying on businesses.
Gary as a self-employed accountant is a small service provider who can take advantage of this deduction.
<h2>Answer</h2>
Buy on Credit
<h3>Explanation</h3>
When in a liquidity problem and items have to be bought, buying on credit seems to be the best option. Buying on credit allows immediate ownership of required items whereas the money can be paid later as per the credit policy and terms. This permits the consumer to take the advantage of item ownership with delayed payment hence double advantage.
Answer:
$900,000
Explanation:
The estimated litigation expense of $3,000,000 will be multiplied by the income tax rate for all the years which is 30%.
Hence,
($3,000,000 × 30%) = $900,000
Therefore the deferred tax liability to be recognized is:
$900,000
Answer:
Total= 389,000 units
Explanation:
Giving the following information:
January February March Expected sales (in units) 440,000 390,000 380,000 Desired ending finished goods inventory (in units) 39,000 38,000 40,000.
February:
Sales= 390,000
Ending inventory= 38,000
Beginning inventory= (39,000)
Total= 389,000 units
