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Molodets [167]
4 years ago
5

In 2014, Iris King bought a diamond necklace for her own use, at a cost of $10,000. In 2019, when the fair market value was $12,

000, Iris gave this necklace to her daughter, Ruth. No gift tax was due. This diamond necklace is a _________
Business
1 answer:
Ivanshal [37]4 years ago
7 0

Answer:

Capital asset

Explanation:

Capital asset are classified as the  property which are expected to generate some value over the duration of time.

Capital assets includes,

Buildings

Computer equipment

Jewelry

Machinery, and vehicles etc.

The capital assets has an expected useful life of more than one year

It can be sold as a normal part of business operations.

You might be interested in
Are real people answering these questions? Do u get paid?
Yuki888 [10]

Answer:

Yes real people answer these questions. No, at least I don't get paid. (although that would be awesome!!!)

4 0
3 years ago
scott is the chief human resource officer (CHRO) of MarkIt Inc.. In performing the tasks of aligning the HR activities with the
Crank

Answer:

leader of the HR function

Explanation:

HRM stands for Human Resource Management. It is a department in any business organization which looks after hiring, training and managing the employees of the organization.

It also deals with the issues of the employees that they face in the organization.

In the context, Scott who is the CHRO, i.e. the chief human resource officer of the organization named Marklt Inc. performs the tasks of the management and alignment of all the HR activities that is with the need of the business. In such a way, Scott is performing the role of the leader of the HR function.  

As a leader of the HR, Scott is ensuring that Marklt Inc. has the right people in the organization working to their best.

5 0
3 years ago
To record a customer's check in full payment for a sale that was made the prior month, the company should debit the ____________
bearhunter [10]

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

<h3>Payable cash account</h3>

Based on the information given the appropriate journal entry to record a customer's check in full payment for a sale is:

Journal entry

Debit Payable Cash account

Credit Sales accounts

(To record customer's check in full payment)

Inconclusion to record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

Learn more about payable cash account here:brainly.com/question/4656883

6 0
2 years ago
At the end of a reporting period, a company determines that its ending inventory has a cost of $300,000 and a net realizable val
Maksim231197 [3]

Answer:

1.Cost of Goods Sold Increase by $70,000

2.Gross Profit and Net Profit decrease by $70,000

3.Inventory in balance sheet decrease by $70,000

Explanation:

IAS 2 requires inventory to be measured at the lower of cost or net realizable value.

In our case the inventory will be valued at net realizable value of $230,000 because this is lower.

The effect with this is :

1.Cost of Goods Sold Increase by $70,000

2.Gross Profit and Net Profit decrease by $70,000

3.Inventory in balance sheet decrease by $70,000

7 0
3 years ago
A fall in the u. s. interest rate differential ______ the demand for u. s. dollars
boyakko [2]

A fall in the U.S. interest rate differential <u>decreases</u> the demand for U.S. dollars.

Demand for the dollar is typically excessive as it is the world's reserve foreign money. other elements that have an effect on whether or not or not the dollar rises in value in evaluation to every other foreign money encompass inflation prices, change deficits, and political balance.

Higher interest rates have a tendency to attract foreign investment, growing the demand for and cost of the house American foreign money. Conversely, decrease interest prices have a tendency to be unattractive for foreign funding and reduce the forex's relative fee.

The cost of money is decided through the charge stage. If prices inside the u.s.a. upward thrust faster than the ones of different nations, people will typically count on the foreign exchange value of the U.S. dollar to fall. call for U.S. dollars will lower and delivery will increases.

Learn more about Demand here brainly.com/question/1245771

#SPJ4

4 0
1 year ago
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