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3 years ago

Which of the following is a deductible loss for income tax purposes?

Business

1 answer:

shutvik [7]3 years ago

6 0

Answer:

d. Net long-term capital losses in excess of $3,000.

Explanation:

A net long-term capital losses in excess of $3,000 is a deductible loss for income tax purposes.

For instance, in a tax year, if an individual has up to $3,000 of net long-term capital losses, this would be considered a form of income rather than a capital gain.

Furthermore, if an individual accrues a net long-term capital losses in excess of $3,000, this loss is deductible and are carried over indefinitely to subsequent tax payments in the future.

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Consider two markets: the market for coffee and the market for hot cocoa·The initial equilibrium for both markets is the same, t

den301095 [7]

Answer:

The elasticity of supply for hot cocoa is 1.43.

(D) Supply in the market for coffee is less elastic than supply in the market for hot cocoa

Explanation:

Using the midpoint formula,

Elasticity of supply for hot cocoa = (change in quantity supplied/average quantity supplied) ÷ (change in price/average price)

change in quantity supplied = 101 - 31 = 70

average quantity supplied = (101+31)/2 = 66

70/66 = 1.06

change in price = 9.75 - 4.5 = 5.25

average price = (9.75+4.5)/2 = 7.125

5.25/7.125 = 0.74

Elasticity of supply for hot cocoa = 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic because the elasticity of supply is greater than 1.

Elasticity of supply for coffee = (73 - 31)/(73+31)/2 ÷ 0.74 = 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. The supply for coffee is elastic because the elasticity of supply is greater than 1.

However, supply in the market for coffee is less elastic than supply in the market for hot cocoa because the elasticity of supply for coffee is less than that of hot coffee.

7 0

3 years ago

The income statement is reconstructed on a cash basis from top to bottom when the ________ method is used to prepare the operati

Elodia [21]

Answer:

Direct method

Explanation:

There are three types of activities in the cash flow statement under the direct method

1. Operating activities: It records those transactions which are related to the cash receipts and cash payments.

Like:

Cash flow from Operating activities

Collections from customers

Less: Cash paid to suppliers and employees

Less: Interest and taxes paid

Net Cash flow from Operating activities

2. Investing activities: It records those activities which include purchase and sale of the long term assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.

4 0

3 years ago

Which is the primary source of revenue for the federal government

soldier1979 [14.2K]

The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and fees.

8 0

3 years ago

Far Horizons, Inc. has experienced a lot of absenteeism and turnover among employees, particularly among ethnic and religious mi

ycow [4]

Answer:

Option D. Adjust working hours to accommodate workers' personal needs.

Explanation:

The reason is that discrimination is treating an employee unfairly on basis of employee's religion, color, etc. and treating them by implementation of policies would not make it violate the discrimination act if the company is already struggling hard to better manage the people by adjusting worker's personal needs which means now if they still are absent then they are accountable for their unethical deeds.

3 0

2 years ago

The monthly demand q for a monopolist firm's product in a certain market (measured in 1000s of units) is related to the price pe

Gnesinka [82]

Answer: (b) -3.08

Explanation:

The relationship between the demand(q), price per unit product(p) and the disposable income,yd is given by the expression below;

q= 20ln(7yd-2p).

From the expression above, the marginal demand,

∂ q/∂ p is the differential of the equation of relationship between the demand, price and disposable income.

This involves considering the demand,q as the dependent variable and the price per unit product,p as the independent variable and the disposable income,yd is considered constant.

Therefore ,

∂ q/∂ p= (-40)÷(7yd-2p)

By substitution of

yd =$3000÷1000= $3

and p= $4

∂ q/∂ p= (-40)÷((7×$3)-(2×$4))

∂ q/∂ p= -40÷13= 3.08

Please see the attachment for knowledge on how ∂ q/∂ p was obtained.

7 0

2 years ago