Answer: D. Todd should include the $500 in 2015 gross income in accordance with the tax benefit rule.
Explanation:
It should be noted that due to the fact that Todd is a cash basis taxpayer, he'll be able to deduct the one-year prepayment for insurance in the year that it was paid, 2014.
In this case, he deducted $1,200, then his net cost will be ($1200 - $500) = $700. In this case, Todd should then include the $500 refund in gross income for 2015 under the tax benefit rule.
Answer:
The number of days' sales in receivables for Year 2 is 48.7
Explanation:
The formula that is applicable to this scenario is the accounts receivable divided by sales multiplied by 365 days
The number of days' sales in receivables=$11,000/$82,500*365=48.67
The correct option is D, since the 48.67 was simply rounded down to one decimal place.
The business life cycle corresponds to the stages that a business goes through throughout its existence in the market, which are existence, survival of the fittest, success, take-off and maturity. The correct sequence for this question is C B D A E.
<h3>Maturity</h3>
The business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name.
<h3>Takeoff</h3>
Expansion strategies are implemented, and investment is balanced with potential.
<h3>Existence</h3>
The business introduces itself to the market and attempts to catch the attention of potential customers.
<h3>Success</h3>
Company is stable and profitable.
<h3>Survival of the Fittest</h3>
Focus shifts to revenue, expenses, and growth. Cashflow is the major issue.
Therefore, the business life cycle will help management to manage its resources according to the business phase and make more effective decisions for competitiveness and organizational positioning.
The correct answer is:
C. Maturity
B. Takeoff
D. Existence
A. Success
E. Survival of the Fittest
Find out more information about business life cycle here:
brainly.com/question/25754149
<span>A petition that, if signed by a majority of the members of the House of Representatives, will pry a bill from committee and bring it to the floor for consideration.
A discharge petition!</span>
Answer:
B. Whether an action is objectively right depends on its consequences
Explanation:
Ayn Rand developed the theory of Objectivism. Objectivism according to her is the philosophical idea, that every thing people do, be it the pursuit of education or financial security is done simply for the purpose of preserving the human life. This theory promotes selfishness over altruism. It also advocates realism. Every other thing people do is supposed to conform to that which is the fact.
This theory also opines that if our philosophy of life is correct or right, then we would be successful. But if our philosophy of life is wrong, then the consequences would be inimical.
