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swat32
3 years ago
15

Jamarcus, a full-time student, earned $2,500 this year from a summer job. He had no other income this year and will have zero fe

deral income tax liability this year. His employer withheld $300 of federal income tax from his summer pay. Is Jamarcus required to file a tax return?
Business
1 answer:
Ne4ueva [31]3 years ago
4 0

Answer:

The correct answer is: No, Jamarcus is not required to file a tax return.

Explanation:

According to the Internal Revenue Service (<em>IRS</em>) requirements for 2019, taxpayers who are single under 65 years-old with an income of <em>$12,200</em> or higher must file a tax return. Taxpayers who are 65 years old or older with an income of <em>$13,850</em> or higher are also obligated to report their income to the IRS.

Thus, <em>as Jamarcus' income for the year was $2,500 only, he is not required to file a tax return</em>.

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By examining relationships between items in the statement of cash flows, investors and creditors can do all of the following exc
d1i1m1o1n [39]

Answer:

determine cash investing and financing transactions made during the period.

Explanation:

When you analyze the statement of cash flows, you can determine and predict how will operating cash flows be in the future. E.g. a project is generating high amounts of cash, so you can predict that it will continue to do so for some time. But what you cannot predict or even compare is related to the financial and investing transactions that the company will make in the future. E.g. by analyzing a cash flow you cannot know if the company will decide to invest in other projects or will it decide to issue more stocks.

5 0
3 years ago
When a pharmaceutical company introduces a new drug, its research and development costs are ______, and the cost of the chemical
Illusion [34]

Answer:

Start-up cost; variable cost

Explanation:

Start-up cost is the cost incurred in developing a new product. It is a one time cost that is incurred only at the time of creating something new. Start-up cost includes borrowing cost, research and development cost and expenses incurred on technology.

Variable costs change with the change in units of output produced. Cost of chemicals depend on the amount of drugs produced. So, research and development cost is start-up cost and cost of chemical is variable cost.

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3 years ago
Firms might be tempted to cheat on the collusive agreement because each firm could achieve multiple choice 8 increased sales. hi
blagie [28]

Through price collusion, each firm would achieve higher profits.

When competing businesses agree to cooperate, such as by raising prices in order to increase profits, this is called collusion. Collusion is a strategy used by businesses to increase profits at the expense of customers and lowers market competition.

Lower consumer surplus, higher prices, and more profits for the colluding businesses are the results of collusion. It may enable oligopolists to exercise monopoly power and increase their group earnings. In an oligopoly, businesses have a strong incentive to work together.

Collusion may be a tactic used in times of unproductive economic circumstances to try and rescue the industry and save companies from going out of business, which would not be for the long-term benefit of consumers.

To learn more about collusion

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6 0
1 year ago
Lucia's bank offers a savings account with a 1.9% APR, compounded monthly. What is the actual percentage yield on this account?
alexira [117]
I've taken this quiz, 1.92% is the right answer.
5 0
3 years ago
Read 2 more answers
If a company produces many different products, it will develop a standard cost for each type of product. true false
saveliy_v [14]

True. A company will develop a standard cost for each product type if it produces many different products.

The process cost system should be used when manufacturing is efficient and continuous. This system's equivalent units method successfully represents the challenging problem of determining how much work the Work in Process entails.

Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.

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4 0
2 years ago
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