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4 years ago

If a schedule c taxpayer does not bring the tax professional documentation to prove income

1 answer:

4 0

If a schedule c taxpayer does not bring the documents to prove the income, one cannot claim the Earned Income Tax Credit. Also the return cannot be prepared by the tax professional however one can make a form 1099 MISC to indicate their own income and lastly they should give other proofs that the income is accurate so that the paper for return can have the sign needed.

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The expenditure approach to measuring u. s. gdp equals ______. a. all expenditure on final goods and services produced in the un

harkovskaia [24]

The expenditure approach to measuring U.S GDP equals <u>all expenditure on final goods and services produced in the united states in a given time period</u>

The Expenditure Approach is a way to estimate GDP that accounts for all economic expenditures, including net exports, government spending, investment, and consumer spending. To put it another way, this approach calculates how much our nation produces based on the premise that the total amount spent in a nation over a certain time period was equivalent to the value of the nation's finished goods and services.

As per expenditure approach the method used to measure and compute nominal GDP is the most popular. The expenditure method formula is computed by adding Net Exports, Government Spending, Investment, and Consumer Spending.

GDP = C + I + G + NX

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To know more about expenditure approach

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7 0

1 year ago

One problem with the consumer price index stems from the fact that, over time, consumers tend to buy larger quantities of goods

BigorU [14]

Answer:

SUBSTITUTION BIAS

Explanation:

Substitution bias occurs when a customer decides to purchase a substitute of a good after the prices becomes cheaper than the goods they normally purchase. It rises as a problem in price index due to the fact that customers/buyers can decide to change or substitute goods at an instant because of changes in prices. In situations like this, customers tend to avoid the whole increase in prices by changing to cheaper substitutes. Substitution generally is a consumer changing or substituting an expensive product for a cheaper one due to changes in prices. This usually leads to inflation rate been overestimated or overstated.

4 0

3 years ago

Princess Cruise Company (PCC) purchased a ship from Mitsubishi Heavy Industry. PCC owes Mitsubishi Heavy Industry 500 million ye

Illusion [34]

Answer:

Explanation:

In the case of forwarding hedge:

The future dollar cost will be = FX receiveable ÷ Foward exchange rate

= 500 million yen ÷ 110 yen/dollar

= $4.55 million

For money market hedge:

Present value of yen payable = $500 \ yen \div (1+ \dfrac{5}{100})$

$= \dfrac{500 \ yen }{1.06}$

= 476.20 million yen

PCC would convert dollars to yens at the spot market rate and borrow yen such that it would get 500 million yen at maturity(i.e after one year) for Mitsubishi to receive it.

Dollars needed to get these yen = 476.30 yen ÷ 124 yen/dollar

= $3.84 million

Future Value of these dollars (for comparison with the foward market hedge) = $3.84 × (1 + 0.08)

= $4.15 million

Hence, the money market hedge is better as the dollar cost is lower than the forward market hedge to meet the obligation.

On the maturity date, the spot rate is 110 yen/dollar

Ad the strike price = 0.0081 /dollar

It is better for the company to go for the strike price due to the fact that it has a lower rate than the spot rate.

Now;

The premium amount = 500000000 yen × 0.014 dollar / yen

= 70000 dollars

However; the Future dollar-cost payable = 500000000 yen × 0.0081 dollar /yen

= 4050000 dollars

By applying option hedge, the total dollar cost required to meet the obligation = (4050000 + 70000) dollars

= 4120000 dollars

The dollar cost needed from the option hedge required to matching the forward hedge is determined by subtracting it from the premium amount:

Thus;

for option hedge, dollar cost needed = (4550000 - 70000) dollars

= 4480000 dollars

The required future spot rate = 500000000/4480000

= 111.61 yen/dollar

As a result, at the future spot rate of 111.61 yen/dollar, PCC will be unconcerned about and indifferent about the option or forward hedge because the future dollar cost of meeting the obligation will be the same.

3 0

3 years ago

Which of the following management responsibilities often involves evaluating the results of operations against the budget?

gayaneshka [121]

Answer: (C) Controlling

Explanation:

The controlling is one of the most important function in the management as it involves proper planning, directing and the organizing all the function in the system.

The main objective of the controlling is that it helps in evaluating the management process and also helps in the error checking in order to taking the various types of decision for the correction purpose.

According to the given scenario, the controlling is one of the management responsibility that involve against the given budget for the purpose of evaluation in an organization.

Therefore, Option (C) is correct.

3 0

3 years ago

Given the following owner’s income and expense estimates for an apartment property, formulate a reconstructed operat-ing stateme

scoundrel [369]

Answer:

$363,000

Explanation:

Calculation for the property’s indicate market value.

First step

Operating Statement

PGI: $66,000

(10 units x $550 x 12 month )

Less: Vacancy Loss(3,300)

(5%*66,000)

EGI:62,700

Less: Operating Expenses

Power$2,200

Heat1,700

Janitor4,600

Water3,700

Maintenance4,800

Management3,000

Reserve for CAPX2,800

Total Operating Expenses$22,800

Net Operating Income$39,900

(62,700-22,800)

Second step is to find the property’s indicate market value.

Using this formula

Market Value=NOI/ Ro

Let plug in the formula

Market Value=$39,900/11.0%

Market Value=$363,000

Therefore the property’s indicate market value is

$363,000

6 0

3 years ago