1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andreas93 [3]
3 years ago
6

Quanti Co., a calendar-year taxpayer, purchased small tools for $5,000 on December 21, Year 1, representing the company’s only p

urchase of tangible personal property that took place during Year 1. Assume Quanti Co. does not want to take §179 or bonus depreciation on the tools. On its Year 1 tax return, how many months of MACRS depreciation may Quanti Co. claim on the tools?
1. one month
2. none
3. one and a half month
4. six months.
Business
1 answer:
Jlenok [28]3 years ago
6 0

Answer: Option A is the right answer

Explanation:  Evidences in most cases has shown that MACRS  is all about applying convention for one and a half year on assets. So when an entities owns 35-40% of an asset in forth quarter, Mid quarter convention will  be applied for only one half of the last quarter, logically one and half month in the last quarter.

You might be interested in
Using the legend provided, classify each of the following statements: Legend A = Tax avoidance E = Tax evasion N = Neither
11111nata11111 [884]

Answer:

A, A, E, E, E.

Explanation:

Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties.

Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar, although unlike tax avoidance tax sheltering is not necessarily legal.

Sue writes a $707 check for a charitable contribution on December 28, 2013, but does not mail the check to the charitable organization until January 10, 2014. She takes a deduction in 2013.  A - Tax Evasion

Sam decides not to report interest income from a bank because the amount is only $19.75.  A - Tax Evasion

Harry pays property taxes on his home in December 2013 rather than waiting until February 2014.  - E - Tax Avoidance.

Variet switches her investments from taxable corporate bonds to tax-exempt municipal bonds.  E - Tax Avoidance.

Mel encourages his mother to save most of her Social Security benefits so that he will be able to claim her as a dependent. E - Tax Avoidance.

8 0
2 years ago
Great Britain, Denmark, and Sweden have stayed out of the euro zone because of the Multiple Choice dollar peg advocated by some
solong [7]

Answer:

implied loss of national sovereignty to the European Central Bank

Explanation:

Unlike France, that has adopted the Euro as its currency, Great Britain, Denmark and Sweden have all decided to stay out of the Euro zone. This is because accepting the Euro as their currency will mean that the European Central Bank, through the Euro, has power over their economies as a result of exchange.

Also, staying away from the Euro zone means that the European central bank doesn't have control of  their monies among other things.

Cheers

6 0
2 years ago
What is the correct definition of harassment?
Ira Lisetskai [31]

Answer:

D

Explanation:

In my opinion, option d includes all major points of harassment

5 0
2 years ago
Read 2 more answers
Which statement about portfolio diversification is correct?
mario62 [17]

Answer:

C. As more securities are added to a portfolio, total risk typically would be expected to fall at a decreasing rate.

Explanation:

Portfolio diversification gives more security to a portfolio, which expected to results in a decreasing rate of total risk.

The portfolio which is diversified carries the co-variance measure of risk. It has the property of reducing the risk as it diversifies the portfolio to a great extent.

It reduces the overall risk by diversifying the assets i.e. stock , bonds, commodities etc.

Hence, the most appropriate answer is option C.

8 0
2 years ago
For each of the goods, identify the characteristics that describe each good. Note that each good will be described with two char
Bad White [126]

Answer: PLEASE  see below for answer

Explanation: An excludable good is referred to as a private good which restrict people from using them while a non excludable goods are public goods that do not place restriction an so  people can access them eg park .

Also, Non-rivalrous goods are those goods that even though consumed by the people will not cause shortage of the  availability of the same goods to others.   A rivalrous good is the opposite as it causes shortage in availability  to others when used.

National Defence----Non excludable and Non Rivalrous

Pay-Per-View cable television---Excludable and NonRivalrous

a Hot Pocket sandwich--- Excludable and Rivalrous

private classroom education--- Excludable and Rivalrous

pajamas--- Excludable and Rivalrous

a unicycle ---- Excludable and Rivalrous

7 0
2 years ago
Other questions:
  • During the current year, Hayden, Inc., had net income of $600,000. Hayden also recorded $200,000 in depreciation expense and had
    9·1 answer
  • Why are extensive training and team building activities important when managing contracted relationships?
    5·1 answer
  • If you want to work in the construction field, what are some of the ways that you could advance your career?
    9·1 answer
  • Brianna and Jess live in Taxland, which only has one tax, an income tax. Both Brianna and Jess pay $1,000 in taxes each year but
    14·1 answer
  • When a manager assigns someone to work one-on-one with a new employee and show the new employee how the work is done, the traini
    10·1 answer
  • Cache Creek Manufacturing Company is expected to pay a dividend of $3.36 in the upcoming year. Dividends are expected to grow at
    11·1 answer
  • The What-Not Shop owns the building in which it is located. This building initially cost $647,000 and is currently appraised at
    5·1 answer
  • Please help me, the picture is linked..
    15·1 answer
  • Purple Corporation acquired 75 percent of Socks Corporation’s common stock on January 1, 20X8, for $435,000. At that date, Socks
    9·1 answer
  • Getting money to start and run a business is referred to as obtaining
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!