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ycow [4]
3 years ago
5

A customer, age 60, has a fixed annuity contract with a value of $16,000. The cost basis in the contract is $10,000. If the cust

omer withdraws $5,000 and the IRS taxes distributions on a LIFO basis, the tax consequence of a withdrawal will be:
Business
1 answer:
g100num [7]3 years ago
6 0

Answer:

$5,000 taxable

Explanation:

In this scenario, the tax consequence of withdrawal will be $5,000 taxable. This is because annuity contract contributions are not tax-deductible, meaning that the original contribution of $10,000 has already been taxed. Therefore in this situation all $5,000 will be taxable, luckily since the individual is over the age of 59 1/2 then the distribution is not subjected to a 10% penalty tax for premature distribution.

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The technical and socio-cultural dimensions of project management are two sides of the same coin. Explain
Juli2301 [7.4K]

Answer:

The answer is below

Explanation:

The technical and socio-cultural dimensions of project management are two sides of the same coin because while they are different, they serve the same purpose. Project managers need to possess and apply both skills to be successful in project management.

The technical dimensions of project management include stuff like the scope of work, time duration, resource allocation, etc. In contrast, the sociocultural dimensions of project management have organizations' cultures and values. Both of which are essential to a project management success

6 0
3 years ago
When the price of butter was "low," consumers spent $5 billion annually on its consumption. When the price doubled, consumer exp
faust18 [17]

Answer:

The correct answer is: No, this situation is impossible.

Explanation:

To begin with, in the reality the situation with the demand curve is all the opposite. The <em>law of demand</em> establishes that there is an indirect relationship between the price of a product and its quantity demanded in the market, therefore that when the price of a good increases then its quantity demanded decreases. And it is by logic as well, because no one will buy more of something if the products is more expensive than it was before. Therefore that the situation in the text is impossible and it could only be opposite.

7 0
4 years ago
Although the federal reserve had traditionally made discount loans only to commercial banks, in response to the financial crisis
irina1246 [14]

Although the federal reserve had traditionally made discount loans only to commercial banks, in response to the financial crisis in 2008 the fed made primary dealers eligible for discount loans as well.

The U.S. central banking system—the Fed, or the Federal reserve—is the foremost powerful economic establishment within the us, maybe the planet. Its core responsibilities embody setting interest rates, managing the cash offer, and control financial markets.

The Global Financial Crisis of 2008-2009 is widely stated as “The great Recession.” It began with the housing market bubble, created by an overwhelming load of mortgage-backed securities that bundled high-risk loans.

To learn more about Federal reserve here

brainly.com/question/23247429

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5 0
2 years ago
If xavier gives up a job in which he earns $23,000 per year in order to go to college full time, his foregone income is part of
natulia [17]
Yes his foregone income is part of the opportunity cost of going to college
3 0
3 years ago
zzy Division of Marine Boats Corporation had the following results last year​ (in thousands). Sales $ 4 comma 700 comma 000 Oper
o-na [289]

Answer:

C. $ 168 comma 000

Explanation:

The computation of the residual income is shown below:

= Operating income - minimum return

where,  

Operating income is $600,000

And, the minimum return equal to

= Invested asset amount × minimum rate of return

= $3,600,000 × 12%

= $432,000

Now put these values to the above formula  

So, the value would equal to  

= $600,000 - $432,000

= $168,000

We simply applied the above formula

3 0
3 years ago
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