Answer:
$3,604
Explanation:
Calculation for what Smith's deferred income tax expense or benefit would be:
Using this formula
Deferred income tax expense =(favorable temporary difference-unfavorable temporary difference)*Tax rate
Let plug in the formula
Deferred income tax expense =($51,200-$40,600)*21%
Deferred income tax expense =$10,600*34%
Deferred income tax expense =$3,604
Therefore Smith's deferred income tax expense or benefit would be:$3,604
The need to choose one goods on a comparison of marginal benefits and marginal costs always involves an opportunity cost.
<h3>What is an
opportunity cost?</h3>
This refers to a value of what is rejected in order to perform the chosen alternative.
Hence, the need to choose one goods on a comparison of marginal benefits and marginal costs always involves an opportunity cost.
Therefore, the Option D is correct.
Read more about opportunity cost
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Answer:
$2,000
Explanation:
From the question, the initial tax basis of Rubio is $20,000.
In a partnership, share of profit will increase the initial basis while share of loss will reduce it.
As the share of Rubio in the limited partnership loss for the year is $22,000, it will make his tax basis to fall to zero because the loss of $22,000 is greater than his tax basis. The amount by which the loss is greater than his tax basis, i.e. $2,000 ($22,000 - $20,000) will be the loss that is allowed considering only the tax basis loss limitations.
Therefore, $2,000 loss is allowed to be carried over due only to the tax basis loss limitation.
Answer:
answer chioce c.
Explanation: a constant monitoring system
Overpricing is a real issue
