Answer:
Please check below for answer.
Explanation:
Exchange can be defined as the process of providing goods and services by an individual or organization, to meet the needs of customers in exchange for an amount of money.
Hence, the five conditions that must exist for an exchange to occur are;
1. There must be at least two parties involved.
2. Each party has something that might be of value to the other party.
3. Each party is capable of communication and delivery.
4. Each party is free to accept or reject the offer.
5. Each party believes it is appropriate or desirable to deal with the other party.
Answer:C
Explanation: this quantity is allocatively inefficient because the marginal cost of producing the last lawnmower exceeds the marginal benefit to consumers.
Answer:
C) None of the $5,000 should be included in gross income.
Explanation:
During 2016, Sarah's itemized deductions (other than the stolen silverware) were only $2,000. If Sarah wanted to deduct the stolen silverware, she could have taken a casualty loss = $6,000 - $100 - $3,000 = $2,900. Her total itemized deductions would equal $2,000 + $2,900 = $4,900.
But during that year, Sarah should have opted for a standard deduction of $6,300 which is higher than her itemized deductions. That means that Sarah didn't claim any deduction for her silverware, so any money received from the insurance company should not be included in her gross income.
Answer:
b. $4,908,000
Explanation:
According to the FASB GAAP, the straight line method is used in this given question which is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($40,900,000 - $4,090,000) ÷ (15 years)
= ($36,810,000) ÷ (15 years)
= $2,454,000
In this method, the depreciation is same for all the remaining useful life
For two years, the accumulated depreciation would be
= Annual year depreciation × number of years
= $2,454,000 × 2 years
= $4,908,000
It is not permissible to sign the documents on the behalf of the other person.
<h3>What is Business Overseas?</h3>
Business Overseas refers to the business with is outside the country often referred as the International Business. It involves the exchange of the goods and services outside the country.
According to the above scenario, Henry has the international business forgets to sign the critical documents in his absence to the particular place he offers his assistant to sign the papers which is not permissible for him to do so.
Learn more about overseas here:
brainly.com/question/15056320
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