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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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Assume that Abby, Ben, Clara, Joe, and Matt are the only citizens in a community. A proposed public good has a total cost of $1,
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During April, the production department of a process manufacturing system completed a number of units of a product and transferr
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Answer:

1) completed and transferred 293,000

<u><em>Equivalent units under W/A method:</em></u>

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EU conversion  306,000

Explanation:

Beginning WIP                 33,000

started and completed <u>260,000</u>

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Ending WIP                      65,000

EU under weighted-average methood:

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3 years ago
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Answer:

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3 years ago
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