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Alex
3 years ago
15

Under the general requirements of Code Sections 162 and 212 regarding trade/business and income-producing activities, to be dedu

ctible an expense must be
Business
1 answer:
vovangra [49]3 years ago
4 0

Answer:

Related to carrying on the activity

Explanation:

The general requirement of the code sections 162 and 212 about the expense allowing as a deduction against income of the business is that the expenses are only allowable if it is related to the same business income. This means that the trading expense would be set off against trading income and rental expense would be set off against rental income. Furthermore, the expenses (losses) would be only deductible for the future years if the business has not abandoned its operations which means the expenses are related to carrying activities.

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The market where business sell goods and services to households and the government is called the
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The market where business sell goods and services to households and government is called the C. Capital Market
4 0
4 years ago
Boise, a division of Price Enterprises, currently performs computer services for various departments of the firm. One of the ser
Vlad1618 [11]

Answer:

irrelevant costs in Boise’s outsourcing = $25500

Explanation:

given data

variable costs = $80,000

fixed operating costs = $25,000

administrative overhead = $18,000

fixed operating costs reduced = 70%

to find out

The irrelevant costs in Boise’s outsourcing decision total

solution

we get here first reduction in traceable cost that is

reduction = 30% of $25,000

reduction = $7500

so irrelevant costs in Boise’s outsourcing will be

irrelevant costs in Boise’s outsourcing = administrative overhead + reduction cost

irrelevant costs in Boise’s outsourcing = $18000 + $7500

irrelevant costs in Boise’s outsourcing = $25500

7 0
3 years ago
Under a $150,000 insurance policy on her deceased father's life, May Green is to receive $12,000 per year for 15 years. Of the $
iVinArrow [24]

Answer:

$0

Explanation:

As we know that the life insurance proceeds would be recieved by the beneficary on the insured person death is tax free

Since the amount of $12,000 would be received by May Green on her insured father so this amount would be tax free

Therefore the amount that subjected to income tax is $0

3 0
3 years ago
A decrease in supply is illustrated by the supply curve shifting to the<br><br> left or right
ale4655 [162]

Answer:

Left******************

3 0
3 years ago
Pavelko Corporation has provided the following data for its two most recent years of operation: Manufacturing costs: Variable ma
marysya [2.9K]

Answer:

Total unitary manufacturing cost= $32

Explanation:

Giving the following information:

Direct materials $ 13

Direct labor $ 5

Variable manufacturing overhead $5

Fixed manufacturing overhead per year $90,000

Units produced= 10,000 units.

<u>The absorption costing method includes all costs related to production, both fixed and variable. </u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary fixed overhead= 90,000/10,000= $9

Total unitary manufacturing cost= 13 + 5 + 5 + 9

Total unitary manufacturing cost= $32

7 0
3 years ago
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