Answer:
c.Scotty did not itemize deductions in 2018
Explanation:
Itemized deductions can be defined as a form of eligible expenses in which individual taxpayers can claim on federal income tax returns which will in turn reduce their taxable income, and this is said to be often claimable in place of a standard deduction, only in a situation where it is available which is why ITEMIZED DEDUCTIONS are expenses that are allowed by the IRS that can decrease your taxable income because when an individual itemize on his or her tax return, such individual can opt to pick and choose from the multitude of individual tax deductions out there instead of taking the flat-dollar standard deduction.
Therefore based on the Scotty scenario the statements that best explains why Scotty is not required to report the reimbursement in gross income is :Scotty did not itemize deductions in 2018
Answer:
Quantity demanded of B/percentage change in price of A.
Explanation:
Cross price elasticity of demand is calculated as follows:
= Percentage change in quantity demanded for Good B ÷ Percentage change in price of good A
Cross price elasticity of demand is positive for the substitute goods and negative for the complimentary goods.
For Substitute goods:
It states that there is a positive relationship between the price of a good and the quantity demanded for its substitute goods.
For complimentary goods:
It states that there is an inverse or negative relationship between the price of a good and the quantity demanded for its complimentary goods.
Answer:
D. Government agency report
Explanation:
D. makes the most sense!! Good luck!
Answer:
December 31
Dr Pension expense $182,100
Cr Unfunded pension Liabiltiy $182,100
January 15
Dr Unfunded pension Liabiltiy $182,100
Cr Cash $182,100
Explanation:
Preparation of the entry to record the accrued pension liability payment to the funding agent on January 15
December 31
Dr Pension expense $182,100
Cr Unfunded pension Liabiltiy $182,100
(Being to record quarterly pension Liabiltiy)
January 15
Dr Unfunded pension Liabiltiy $182,100
Cr Cash $182,100
( Being to record the accrued pension liability payment to the funding agent)
