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LUCKY_DIMON [66]
3 years ago
14

Which of the following is a true statement? Multiple Choice a) Meals are never deductible as a business entertainment expense. b

) An employer can deduct the full cost of meals provided to employees as compensation. c) The cost of business meals can be extravagant if incurred away from home. d) A taxpayer can only deduct the full cost of a meal for a client if business is discussed during the meal.
Business
1 answer:
Ahat [919]3 years ago
8 0

Answer:

The answer is: B) An employer can deduct the full cost of meals provided to employees as compensation.

Explanation:

When an employer provides free meals at work it is a win-win situation for both the employees and the employer. They both benefit from it; the employees get "free meals" and the employer is able to deduct the full cost of the meals. Everyone has to eat at some time, and free meals are a great perk.

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​Martinville, Inc. earned revenues of $ 17,000 and incurred expenses of $ 7,000. The company declared and paid cash dividends of
vladimir1956 [14]

Answer:

$10,000

Explanation:

A company's income is either shared out as dividends or kept in as retained earnings. Therefore, the total of retained earnings and dividend paid out is the net income. This is the amount that will reflect in the income statement. In other words, income is calculated first before dividends or retained earnings are declared.

For ​Martinville, income will be calculated first before dividends are paid. Net income will be

=revenue - expenses

=$17,000 -$7,000

=$10,000

Balance in the Income Summary account was $10,000

4 0
3 years ago
Jessica is a U.S. Army Reservist and in 2019 traveled 130 miles each way to serve duty at a local military installation. She was
faust18 [17]

Answer:

Jessica's for AGI deduction for these costs is:

b. $14.00.

Explanation:

The aggregate gross income (AGI) can be defined as the total amount of income that an individual earns and is used in calculating the amount of income tax that an individual is liable to pay. The AGI can be expressed as follows;

AGI=T×N×W

where;

AGI=aggregate gross income

T=toll amount per way

N=number of times she reported

W=number of way

In our case;

AGI=unknown, to be determined

T=$1.75

N=4

W=2

Replacing;

AGI=(1.75×4×2)=$14.00

Jessica's for AGI deduction for these costs is:

b. $14.00.

4 0
3 years ago
Which of the following companies is most likely to use nonprice competition rather than price competition? a. Recreational Equip
Bingel [31]

Answer: REI

That’s the answer

7 0
3 years ago
What are three things not to do while driving and three things to do while driving?
Verdich [7]
Do not do

text, drink, speed

do

watch road, hands on wheel, be safe
6 0
3 years ago
Read 2 more answers
Which management viewpoint places emphasis on the importance of understanding human beings and the motivation and encouragement
Basile [38]
<h2>Behavioral view point is pertaining to the motivation and encouragement of employees towards achievements.</h2>

Explanation:

Initially the organization was  

  • concentrating only on the productivity of the employee
  • lost focus on motivating employees
  • not providing much "employee-friendly" atmosphere

Later on, the "Behavioral management" theory helped the organization

  • a shift from Production to leadership based work culture
  • a good work environment to satisfy the employees
  • Motivate to achieve good results
  • Reach both individual and organization's goal
  • Motivating by providing Increase in the wages
7 0
3 years ago
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