The amount deductible by Robert for year 2021 against the meal and entertainment expenses will be 50% that is $420 from the total expense amount of $840.
<h3>What is business deductions?</h3>
The business deductions are the amounts those are allowed to be deducted while filling the income tax. There is certain criteria to deduct different expenses.
As per the IRS regulation, when the tax payer is self-employed then the amount that can be deducted against meal and entertainment can be 50% of the total expense.
Therefore, Robert can deduct only $420 from the taxable income.
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The common errors that leads to unbalanced account and are the easiest to resolve includes the <em>error of </em><em>Omission, Commission</em>. <em>Original Entry and Duplication</em><em>.</em>
In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.
Generally, the recognized type of errors in accounting includes:
- <em>Error of Original Entry</em>
- <em>Error of Duplication</em>
- <em>Error of Omission</em>
- <em>Error of Entry Reversal</em>
- <em>Error of Principle </em>
- <em>Error of Commission</em>
- <em>Transposition Errors</em>
- <em>Rounding Errors </em><em>etc</em>
In conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the <em>error of </em><em>Omission, Commission</em>. <em>Original Entry and Duplication</em><em> </em>because they are easy to correct.
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Answer:
c)No change will occur in the market.
Explanation:
A price ceiling above the equilibrium price is a non binding price ceiling and it does not affect the market. No change in supply or demand occurs.
Answer:
c. The stock's beta will be greater than one.
Explanation:
In order to understand the right answer here, we need to understand what Beta is and what does it represent.
Well, Beta tells about the responsiveness of any stock in comparison with the stock market index. For example, if the index move 100 points positive and the stock price moves $120 positive, this means that the stock is very responsive and has a high beta of more than 1. For stocks that are less response to stock market, their beta is less than 1, while for stocks who move the exact same direction as per the stock market, their beta is said to be equal to 1.
Here, in this question, since the stock return is more variable than the market return, it clearly tells that the Beta of that stock will be greater than one.
Hope this helps, Good Luck.
This is actually called a decentralized authority.
Decentralized<span> decision making
is any method in which the decision making <span>authority </span>is actually
spread out to larger group. This also means that a higher </span>authority is given to
lower level functionaries, executives, and workers.
