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Ilya [14]
3 years ago
7

Tobin inherited 100 acres of land on the death of his father in 2019. A Federal estate tax return was filed and the land was val

ued at $300,000 (its fair market value at the date of the death). The father had originally acquired the land in 1976 for $19,000 and prior to his death had made permanent improvements of $6,000. What is Tobin's basis in the land
Business
1 answer:
Margarita [4]3 years ago
4 0

Answer:

Tobin's basis in the land is $300,000.

Explanation:

Since return was filed and the land was valued at $300,000 which was the fair market value at the time of death. then, Tobin's basis in the land is $300,000.

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3 years ago
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The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to th
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Answer:

The correct answer is Option D.

Explanation:

Internal control comprises the whole system of financial and other controls established and operating within a business, including internal check, internal audit and all other forms of control.

Based on Committee of Sponsoring Organizations (COSO) framework, there are 5 interrelated components of internal control, which are: Control environment, Risk assessment, Control activities, Information and communication and Monitoring.

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3 years ago
BMW has developed two new print ads designed to appeal to women.One ad uses local scenes from around its South Carolina plant an
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Answer:

The correct answer is letter "A": split-run testing.

Explanation:

A split-run test is useful for companies advertising their products through e-mails or print advertisements. The firm takes a sample of the target population and divides the test into two sections to measure the responsiveness of consumers to one and another promotion. The advertisement that ends up resulting in being more beneficial is sent to all the audience the institution has.

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3 years ago
When the price of candy bars decreased from $0.55 to $0.45, the quantity demanded changed from 19,000 per day to 21,000 per day.
just olya [345]

Answer:

0.5

Explanation:

A screenshot is attached to get the full solution

Since the coefficient is < 1, it is inelastic

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3 years ago
A gas tax imposed by some states in which those who use the roads more pay more to maintain them is based on the _____ principle
Volgvan

The principle that's illustrated by the gas tax is known as the benefit received principle.

<h3>What's a tax?</h3>

It should be noted that a tax is a compulsory payment that generate revenue to the government.

In this case, a gas tax imposed by some states in which those who use the roads more pay more to maintain them is based on the benefits received principle.

Learn more about tax on:

brainly.com/question/25783927

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