All categories

3 years ago

Which of the following statements are true for both gratuitous and testamentary transfers?

Business

1 answer:

kherson [118]3 years ago

4 0

Answer: D. A charitable and marital deduction is allowed in computing the taxable transfers.

Explanation:

A gratuitous transfer is when a property is being given as a gift from a donor while testamentary transfer has to do with the transfer of a property to an individual based on the specification in a will.

The thing true to them is that a charitable and marital deduction is allowed in computing the taxable transfers.

You might be interested in

A company had a standard sales price of $1.79 per unit and expected to sell 10,000 units. Due to a downturn in the economy, the

Sloan [31]

Answer:

Sales price variance = $1,900.

Explanation:

We know,

Sales price variance = (Standard sales price - Actual sales price) × Actual sales quantity

Given,

Standard sales price = $1.79 per unit.

Actual sales price = $1.59 per unit.

Actual sales quantity = 9,500 units.

Putting the values into the formula, we can get

Sales price variance = (Standard sales price - Actual sales price) × Actual sales quantity

or, Sales price variance = ($1.79 - $1.59) × 9,500

or, Sales price variance = $0.2 × 9,500

or, Sales price variance = $1,900.

4 0

3 years ago

Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business?

Alborosie

Answer:

Equity of the business= $17,076.

Explanation:

Equity as used in business is used to refer to the difference between the worth of a business (its assets) and what the business owes (debts and liabilities).

In other words, total equity refers to the value which is left in the company after the total liabilities must have been subtracted from the total assets.

The formula to calculate total equity is given below:

Equity = Assets - Liabilities

Therefore to calculate the equity above, we have:

Equity = $64,342 - $47,266

Equity = $17,076.

4 0

2 years ago

Consider an imaginary economy that has been growing at a rate of 6% per year. Government economists have proposed a number of po

Natasha2012 [34]

Answer:

11.67 years

Explanation:

The rule of 70 requires that in determining when the economy growth rate will double its current growth rate, the appropriate thing to do is divide 70 by the current growth rate of 6% per year.

The economy's growth rate of 6% has its percentage ignored when the calculation is carried out.

=70/6= 11.67

The current economy's growth rate would double in 11.67 years' time

8 0

2 years ago

When cell phones were first entering the market, they were relatively large and reception was undependable. All cell phones were

ahrayia [7]

Answer:

<em><u>The correct answer is: </u></em>Markets evolve toward greater heterogeneity over time.

Explanation:

The history of cell phones shows a marketing trend that markets evolve towards greater heterogeneity over time.

This occurs in relation to market segmentation, that is, organizations identify groups of consumers with similar tastes and develop all their marketing actions to reach a certain demand according to their needs, tastes and preferences. Market segmentation creates a heterogeneous market, with differentiated products in terms of functionality, design, price, benefits, etc., so that existing demands are met.

8 0

3 years ago

Sherman, Inc. manufactures chainsaws that sell for $65. Each chainsaw uses $14 in direct materials and $9 in direct labor per un

anzhelika [568]

Answer: $18

Explanation:

Based on the information,

Sales revenue = $65 × 225 = $14625

Cost of goods sold = (45 × $20) + (1125 × $4) + (225 × $14) + (225 × $9)

= $900 + $4500 + $3150 + $2025

= $10575

Gross profit = Sales revenue - Cost

= $14625 - $10575

= $4050

The gross profit for one chainsaw will be:

= $4050/225

= $18

6 0

2 years ago