1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fed [463]
3 years ago
5

On July 20, 2018, Kelli purchases office equipment at a cost of $12,000. Kelli elects out of bonus depreciation but makes the el

ection to expense for 2018. She is self-employed as an attorney, and, in 2018, her business has a net income of $6,000 before considering this election to expense. Kelli has no other income or expenses for the year. What is the maximum amount that Kelli may deduct for 2018 under the election to expense, assuming she elects to expense the entire $12,000 purchase?
Business
1 answer:
abruzzese [7]3 years ago
7 0

Answer:

Kelli can deduct up to $6,000 in expenses from her net income, so her net income for this year would be $0. She could have deducted an even larger amount if her net income had been higher (up to $12,000 in deductions), since you can only deduct up to the amount of your net income.

You might be interested in
National saving a. is the total income in the economy that remains after paying for consumption. b. is the total income in the e
lys-0071 [83]

Answer:

The correct answer is option b.

Explanation:

National saving is the portion of total income which is left after consumption and government spending. It is the sum of total private saving and public saving.

It is that portion of national income or GDP which is not consumed by the public and spent by the government.

It can be expressed as:

National saving = Y - C - G

7 0
3 years ago
Suppose that a tax is placed on books. if the sellers pay the majority of the tax, then we know that the
Inessa05 [86]
If the sellers pay the majority of the tax, then the supply is more inelastic than demand. 

If something is inelastic it is not sensitive to changes in the price or income of someone. The sellers will always have more of the tax burden when supply is more inelastic than demand and vis versa when demand is more inelastic than supply. 
4 0
3 years ago
The ___ act requires companies to produce both an internal control report and an external audit.
Rufina [12.5K]

Answer:

b :)

Explanation:

❤❤❤❤❤

6 0
3 years ago
Read 2 more answers
Which of the following is not a function of prices in a market system? Group of answer choices Prices send signals to buyers and
Sedaia [141]

Answer:

Prices ensure an equal distribution of goods and services among consumers.

Explanation:

The price mechanism helps in the efficient allocation of resources. There are a number of functions performed by the price mechanism. Prices send signals regarding resources. An increase and decrease in prices reflect surplus and deficit.  

Price balances the demand and supply of a product. Price is inversely related to demand and positively related to the supply of a product. It is determined by the interaction of demand and supply and helps in balancing supply and demand.  

For instance, an increase in demand would increase the price, this higher price will motivate the suppliers to increase quantity supplied thus balancing demand and supply.  

Price helps in coordinating economic activities and helps buyers and sellers in decision making. However, they do not help in equal distribution of goods and services among consumers.

6 0
3 years ago
There are 12 general categories of threat to an organization's people, information, and systems. List at least six of the genera
Alenkinab [10]

Answer:

1. Human Error: an example is disregard to safety measures.

2. Compromises to Intellectual Property: an example is piracy of an organization's product.

3. Forces of Nature: an example is earthquake.

4. Information extortion: an example is coercion or blackmail.

5. Quality of service deviation: an example is an epileptic or poor power supply.

6. Industrial espionage: an example is unethical hacking of data.

Explanation:

A threat to an organization's people, information, and systems is basically any circumstances or events that poses a potential danger, damage or adverse affect to its smooth running.

These threats can be classified into six (6) categories and these are;

1. Human Error or failure: this are errors that arise as a result of having incompetent employees (slips and lapses) or mistakes stemming from the workers. <em>An example of human error is an employee that disregard safety measures. </em>

2. Compromises to Intellectual Property: this usually occurs when an intellectual property is stolen illegally from an organization. <em>An example is piracy of an organization's product.</em>

3. Forces of Nature: this is usually caused by a natural disaster. <em>Examples of forces of nature are flood, earthquake, fire etc. </em>

4. Information extortion: this arises when sensitive data about an organization is held through <em>coercion, bribery or computer hacking</em>.

5. Quality of service deviation: this would occur when there's a shortage in the quality of service received by an organization, contrary to what is expected or required. <em>Examples are poor power supply, poor internet service etc. </em>

6. Industrial espionage: this is as a result of loosing sensitive data to <em>unauthorized individuals or hackers.</em>

7 0
3 years ago
Other questions:
  • Abel was employed as a security guard for Seep Corporation. Abel's job was to guard a fenced-in area and to use force to keep in
    15·1 answer
  • The manufacturer of the gift boxes that Sylvia sells has offered her an incentive. What is this called?
    7·1 answer
  • A nominal interest rate is defined as "the opportunity cost of holding or using money." explain what you understand this definit
    15·1 answer
  • When the supply curve shifts out (to the right) and the demand curve shifts out (to the right), the equilibrium quantity will:a)
    7·1 answer
  • ÂOaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,500 units during the year. The company has provided
    7·1 answer
  • The future of cities in the United States and in other countries will be determined by their ability to benefit from the _______
    10·1 answer
  • The existence of the underground economy causes gross domestic product (gdp) statistics to _____
    10·1 answer
  • Jarett Motors is trying to decide whether it should keep its existing car washing machine or purchase a new one that has technol
    6·1 answer
  • When the interest rate is 10% per year, all of the following are equivalent to $5,000 now except: A) $4,545 one year ago B) $5,5
    8·2 answers
  • Which of the following demonstrate a healthcare worker using strategies for managing people? choose all that apply
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!