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egoroff_w [7]
3 years ago
14

Barry, a solvent individual but a recovering alcoholic, embezzled $6,000 from his employer. In the same year that he embezzled t

he funds, his employer discovered the theft. His employer did not fire him and told him he did not have to repay the $6,000 if he would attend Alcoholics Anonymous. Barry met the conditions and his employer canceled the debt.
A. Barry did not realize any income because his employer made a gift to him.
B. Barry must include $6,000 in gross income from discharge of indebtedness.
C. Barry must include $6,000 in gross income under the tax benefit rule.
D. Barry may exclude the $6,000 from gross income because the debt never existed.
E. None of these.
Business
1 answer:
skad [1K]3 years ago
7 0

Answer: Barry must include $6,000 in gross income from discharge of indebtedness

Explanation:

Feom the question above, we are told that Barry embezzled $6,000 from his employer and that even though his employer discovered the theft, the employ did not fire him and told him that he did not have to repay the $6,000 if he attend Alcoholics Anonymous. Barry met the conditions and the employer canceled the debt.

In this case, Barry will have to include the $6,000 he stole in gross income from discharge of indebtedness. The gross income has to do with the sum of the wages, profits, salaries, rents, interest payments, and every other earnings, before the deductions of taxes or other deductions. Since Barry stole the money and.he.has been forgiven, the $6,000 has to be included in the gross income from discharge of indebtedness.

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stiks02 [169]

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

<h3>What is the average variable cost?</h3>
  • In economics, the variable cost per unit is known as the average variable cost.
  • Divide the entire variable cost by the output to get the average variable cost.
  • In the short term, the enterprises use the average variable cost to determine whether to stop production.
<h3>What is the average fixed cost?</h3>
  • The average fixed cost (AFC) is a fixed cost that remains constant regardless of the number of goods and services produced by a corporation.
  • To summarize, the average fixed cost (AFC) is the fixed cost per unit derived by dividing the total fixed cost by the output level.

Therefore, the output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

Know more about average variable cost here:

brainly.com/question/25325504

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Complete question:

​Matt's factory rents equipment for manufacturing sports bags and hires students.

The table gives​ Matt's average total cost schedule and average variable cost schedule.

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set​ in, ______.

A.the  total fixed cost initially increases and then decreases

B. total fixed cost is decreasing at a faster rate than total variable cost is increasing

C. average variable cost is decreasing at a faster rate than average fixed cost is increasing

D. total variable cost is decreasing at a faster rate than total fixed cost is increasing

E. average fixed cost is decreasing at a faster rate than average variable cost is increasing

7 0
1 year ago
based on this information, the amount of overhead allocated to a job that used 300 direct labor hours is $
Amiraneli [1.4K]

The amount of overhead allocated to a job that used 300 direct labor hours is $900.

<h3>Overhead allocated:</h3>

First step is to calculate the predetermined overhead rate per direct labor hour

Using this formula

Predetermined overhead rate=Estimated manufacturing overhead/Estimated direct labor hours

Predetermined overhead rate=$450,000/150,000

Second step is to calculate the overhead allocated

Overhead allocated=Predetermined overhead rate × Direct labor hours

Overhead allocated=$3×300

Overhead allocated=$900

Inconclusion the amount of overhead allocated to a job that used 300 direct labor hours is $900.

Learn more about overhead allocated here:brainly.com/question/15739613

3 0
2 years ago
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aleksandr82 [10.1K]

Answer:

1. Product

Explanation:

Perdue finding out that one of its chicken products may have been contaminated with bacteria, pulled it off the shelves and instituted a recall.

Hence, this potential ethical issue is associated with product marketing mix because Perdue was very much concerned about the quality level, safety and reliability of his chicken products. This simply means, Perdue is much more interested in producing and selling highly uncontaminated products to it's customers.

A product marketing mix is focused mainly on the products, reason Perdue pulled the chicken products off the shelves and instituted a recall.

This would help to boost confidence among their customers to use more of their products in the future and by extension their market share.

7 0
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MAVERICK [17]
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Answer:

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1: Brand Recognition: is the ability of consumers to confirm previous exposures to brand when they are presented the brand as a cue. For example, if you go to a store, will you be able to recognize the brand to which you have been already exposed?

2: Brand Recall: It is the consumers ability to retrieve the brand from their memory if they are given product category or usage occasion as a cue. For example, when you think of carbonated drink, then what brand comes into your mind?

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