Answer:
a. "Not deductible"
b. "Not deductible"
c. "Not deductible"
d. "Deductible"
e. "Not deductible"
f. "Not deductible"
Explanation:
Expenses to be deductible ( especially for tax purposes) must pass the WREN test where;
W stands for wholly
R stands for reasonably
E stands for exclusively
N stands for necessarily
Looking at the expenses incurred and paid for by Doug during the year, the $50 ticket for running a red light is not a necessary expense as an adherence to traffic signs would have prevented such an expense. it can also be said that the expense was not reasonably incurred. This also applies to options b and c. Parking at the handicapped space is completely avoidable (necessity test) and as such the $100 would not have been incurred. While the $200 paid to the attorney for representation in court is an offshoot of options a and b. This would not have been incurred if the first two incidences were avoided.
Option c is deductible as the $500 paid is wholly for the business, reasonable, exclusive and necessary. As such, the expense is deductible or allowable. Options e and f are not related to business and are incurred on personal grounds which are avoidable hence, these expenses would not pass the WREN test.
Answer:
The correct option is B, Rita's is in breach of contract.
Explanation:
Breach of contract occurs when a party or parties to a legally binding and enforceable agreement refuse to discharge their duties as stipulated in the contract.
Even though Rita's inability to pay as at when due was not intentional as Rita's bank had closed, the onus is still on the company to fulfill its obligation.
It is important that both parties find an amicable way to enforce the terms of the contract or Commercial Construction ,Inc (CCI) tries recover financial damages caused to it by the breach or in an extreme situation, they settle for lawsuit.
<u>Explanation:</u>
<em>Remember,</em> the term 'marketing', could be defined in general terms as the activities carried out by a company (non-profit or for-profit) in other to promote their cause (which can be their products or services).
For example, unlike a for-profit company which may have a marketing goal of achieving a set amount of sales in the first half of the year, a non-profit on the other hand may have a marketing goal of raising the needed amount to fund their school feeding program.
Also, in terms of strategies used, while a for-profit company may use paid marketers, a non-profit may solicit the help of volunteers.
Answer:
I think the answer is c.work ethic
