1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
melamori03 [73]
3 years ago
7

The Blue Utilities Company paid Sue $2,000 for the right to lay an underground electric cable across her property anytime in the

future.
a. Sue must recognize $2,000 gross income in the current year if the company did not install the cable during the year.
b. Sue is not required to recognize gross income from the receipt of the funds, but she must reduce her cost basis in the land by $2,000.
c. Sue must recognize $2,000 gross income in the current year regardless of whether the company installed the cable during the year.
d. Sue must recognize $2,000 gross income in the current year, and when the cable is installed, she must reduce her cost basis in the land by $2,000. e. None of these.
Business
1 answer:
Reil [10]3 years ago
8 0

Answer:

B)

Explanation:

Sue is not required to recognize gross income from the receipt of the funds, but she must reduce her cost basis in the land by $2000.-

You might be interested in
the initial valuation of purchased intangible assets requires that the intangible asset is recorded at
bixtya [17]

Answer: original cost

Explanation:

7 0
3 years ago
Often consumers base their perception of price on what they perceive to be the customary or ________.
ycow [4]
Based on other stores, and what their prices are too
3 0
3 years ago
Read 2 more answers
Don kosec, vp of business services for time warner cable in northeast ohio says that their goal is to increase their sales in th
Alex

e. of course it is a good goal; it meets all of the criteria discussed

This goal meets all the criteria for a SMART goal.

5 0
3 years ago
Any item that has a definite monetary value is able to be used as:
Alex777 [14]
An installment payment is equal payments every month, meaning it is the correct answer. (B)
7 0
3 years ago
When did american business begin to concentrate on customer needs why?
PolarNik [594]
<span>American businesses began to be more interested in the needs of their customers due to the increase in the competition between merchants and the demand of quality by the consumer which forced the merchants to pay more attention to consumer needs rather than their own necessities as an entrepreneur, since if the consumer does not need a product, then it is not commercially viable. Since the 1950's the increase in consumption has had a direct impact on entrepreneurs, business owners, and markets.</span>
3 0
3 years ago
Other questions:
  • In a formal business document, a works cited list usually appears
    7·1 answer
  • A security professional needs to identify a physical security control that will identify and authenticate individuals before all
    8·1 answer
  • Both the Onus ferry operator in the monopoly market and each of the Yuri ferry operators in the perfectly competitive market wil
    14·1 answer
  • "Which of the following statements are TRUE? I New issues of Treasury Bills are generally priced at par II New issues of Treasur
    14·1 answer
  • Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on accou
    7·1 answer
  • A company should accrue a loss contingency only if the likelihood that a liability has been incurred is:At least reasonably poss
    6·1 answer
  • What kinds of decisions should members of congress be willing to anger their party leadership over? on what kinds of issues or d
    9·1 answer
  • A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 60,000 lbs
    15·1 answer
  • Jordan, a senior salesperson for a steel firm, plans to get a huge investment from the owner of an automaker. He begins his sale
    12·1 answer
  • he manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indica
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!