Answer:
correct option is b.$5500
Explanation:
given data
sold property = $489,000
highly leveraged resulting cash = $5,500
to find out
How much withheld to the Colorado Department of Revenue Income Tax
solution
we know that when any seller out of state address then state direct close withholding = 2 percentage of net proceeds or purchase price
which is less we take that and here 2% is
2 percentage of sold price = 2% of $489,000
2 percentage of sold price = $9780
so we can say $9780 amount is higher than proceeds amount = $5,500
so we take here lesser amount i.e. $5,500 as withheld potential tax liability
so correct option is b.$5500
It's tough. Is there an answers key or something
A partner <u>cannot</u> be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation.
<h3>What is
partnership?</h3>
Partnership arrangements come in many different forms. One type of business where partners may have minimal liability is a partnership where all participants share profits and liabilities equally. Additionally, there is the so-called "silent partner," when one party does not participate in the day-to-day management of the company.
- An agreement between two or more people to manage a business' operations and divide its assets and liabilities is known as a partnership.
- All partners in a general partnership corporation split the company's assets and debts equally.
- Lawyers and other professionals frequently create limited liability partnerships.
A partnership may have tax advantages over a corporation.
To learn more about partnership from the given link:
brainly.com/question/22848646
#SPJ4
<u>Solution and Explanation:</u>
(a). Firm in perfect competition produces at minimum efficient scale, MEC where average cost AC is minimum. The price is determined by the market supply and demand.
(b) Note that q1 is at the minimum of AC while Q* is to the left of q1. Similarly, P1 is equal to MC while P* is higher than MC. This shows that firms in perfect competition produce more and charge less than the firms in monopolistically competitive market.
(c) All firms in monopolistically competitive market as well as perfectly competitive market earn zero economic profit in the long run. This is because there is a free entry and exit
(d) Demand is steeper for firms in monopolistically competitive market so that demand is elastic. Demand is horizontal for any quantity which means it is perfectly elastic for a firm in competitive market.
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