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Anna007 [38]
2 years ago
10

Molly operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership cos

ts $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period. On July 1, 2019, Molly sold a one-year membership and a two-year membership.
I. If Molly is a cash basis taxpayer, her 2015 gross income from the contracts is $960 ($360 + $600).
II. If Molly is an accrual basis taxpayer, her 2015 gross income from the contracts is $330 [(6/12 × $360) + (6/24× $600)].
III. If Molly is an accrual basis taxpayer, her 2016 gross income from the contracts is $630 [(6/12)($360) + $450]

a) Only I is true.
b) Only I and II are true.
c) Only II and III are true.
d) I, II, and III are true.
e) None of the above.
Business
1 answer:
zlopas [31]2 years ago
8 0

Answer:

d.  I, II, and III are true

Explanation:

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If China moved from the central to the free market, it does not mean that is it in the state of Transition. This is because, it could be the choice of China itself to keep a balance between the command and the free market economies, whatever suit its needs.

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Think of three example from your own experience, and explain how they demonstrate the concept of diminishing marginal utility.
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