Answer: b. Harold is not required to recognize gross income but must reduce his cost basis in the land to $130,000.
Explanation:
When Harold bought the land for $150,000 he acquired a basis of $150,000 in the land. Due to Jewel's cash problems, he managed to pay $20,000 less for the land.
For tax reporting purposes, he need not recognize gross income but he must reflect that he acquired the land for $20,000 less in his basis for the land thereby reducing the basis to $130,000.
Answer:
2500
Explanation:
First depreciate for 6 years using regular method: (Cost - Salvage Value)/Initial Useful life
(50,000-10,000)/8 = 5000 <- this is annual depreciation
For 6 years, $30,000 accumulated depreciation
Now to calculate change in useful life, you do (Cost - Accumulated Depreciation - Salvage Value)/Remaining Useful life
Remaining Useful life = 10-6 = 4
(50,000-30,000-10,000)/4 = 2500
Answer:
Option d would be the correct approach.
Explanation:
- The organized database of the important tasks required in carrying out a task that has been extrapolated from such a job description and used in job classification and assessment and personnel policies as well as positioning.
- This usually includes tasks, intent, obligations, nature including employment conditions of a position including the description of the position, as well as the identity or description of the individual the input data to.
Many examples do not apply to the subject being discussed. So option d is indeed the right one.
Answer:
Yes
Explanation:
Yes, in such a situation the promise must be written and signed by both parties in order for it to be enforceable. This is mainly due to the fact that the promise is being made for circumstances regarding a third individual which therefore makes this a Collateral promise. Collateral Promises must be written and signed in order for it to take effect and protect all parties involved from backing out of the contract, which doing so would be considered fraud.
The main concern of executives when designing a management support system (MSS) is <em>b. getting the information they need in the simplest way.</em>
A management support system provides managerial information resources to enable management <em>to plan, make decisions, and manage the organizational activities to achieve goals.</em>
Executives' main concern with the design of a management support system <u>is not</u> to:
- Identify unquantifiable benefits
- Get support from all employees
- Get technically-advanced information.
Thus, the concern of executives during the design of a management support system is to get needed information <em>most simply.</em>
Learn more: brainly.com/question/20297199
