This is an example of Churning.
<h3><u>
What is Churning?</u></h3>
- Churning, or excessive trading of assets in a client's account by a broker to generate commissions, is an unlawful and unethical practice.
- Churning cannot be quantified, it may be demonstrated by the repeated purchasing and selling of stocks or other assets that fall short of the client's investing goals.
- Churning is the practice of exchanging assets excessively in a client's brokerage account in an effort to earn commissions.
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Answer:
Mr Curtis can deduct his total property taxes of $ 7,810.00 as well as the Indiana state income tax of $8,120.00 ,since this exceeds the Indiana state sales tax on consumer goods and services of $2,890.00 paid by Mr Curtis during the year.
Finally,the remaining are not deductible
Explanation:
In other words the following taxes are not deductible:
1.Federal income tax $72,250.00
2.Federal gift tax $361
3.The Federal payroll tax for housekeeper $1,301
4.Indiana sales tax on consumer goods and services$2,890
Lastly the property taxes deductible is computed thus:
Principal residence $3,980.00
Vacation home $2,530.00
Two automobiles $1,300.00
Total $ 7,810.00
Answer:
$13
Explanation:
total consumer surplus = ($10 - $6) + ($7 - $6) = $4 + $1 = $5
total supplier surplus = ($6 - $2) x 2 units = $4 x 2 = $8
total surplus in the market = consumer surplus + supplier surplus = $5 + $8 = $13
Since the price is higher than Chuck's willingness to pay, no transaction will occur resulting in 0 surplus.
The strategy by the company is known as outsourcing.
<h3>What is outsourcing?</h3>
In Business, outsourcing means the company has hired or recruited another firm to perform a certain function required to complete the product. It may involve, manufacturing, HR services, marketing, embroidery, etc.
In the above scenario, a certain function required to complete the product is done by another company which is the process of outsourcing.
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