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ad-work [718]
3 years ago
14

Which of the following statements about the inclusion of boot in a nontaxable exchange is false? Multiple Choice The purpose of

including boot in a nontaxable exchange is to equalize the adjusted tax bases of the properties exchanged. The receipt of boot can trigger gain recognition but not loss recognition. The party paying the boot includes the FMV of the boot in the tax basis of the property received. None of the above is false.
Business
1 answer:
ankoles [38]3 years ago
3 0

<u>Answer:</u>

<em>The purpose of including boot in a nontaxable exchange is to equalize the adjusted tax bases of the properties exchanged. </em>

<em></em>

<u>Explanation:</u>

A nontaxable exchange is a trade wherein you are not exhausted on any addition, and you cannot deduct any loss. On the off chance that you get property in a "nontaxable business", its premise usually is equivalent to the assumption of the property you moved. A nontaxable increase or misfortune is otherwise called an unrecognized addition or misfortune.

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Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of oper
Olin [163]

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:

Variable costs per unit:                        

Manufacturing:

Direct materials                                               $ 6

Direct labor                                                      $ 9

Variable manufacturing overhead                 $ 3

Variable selling and administrative                $ 4  

Fixed costs per year:

Fixed manufacturing overhead                      $ 300.000

Fixed selling and administrative                     $ 190.000

During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.

The four steps of writing an income declaration are: to identify sources of sales, in addition to profits from investments, for an instance pick out business enterprise prices and losses incurred over the same period. Consolidate sales, charges, profits, and losses by means of category, payee, or some other factor.

Learn more about Income statements here:-brainly.com/question/1798830

#SPJ4

7 0
1 year ago
A sum of $46875 was lent out at simple interest and at the end of 1 year 8 months, the total amount was $50000. Find the rate of
tino4ka555 [31]

Answer:

4%

Explanation:

Simple interest is calculated using the formula

I = p x r x t

in this case, the interest I is the total amount-principal amount

I = $50,000- $46,875

=$3,125

$3,125 = 46,875 x r x 1 year 8 months

$3,125 =46,875 x r/100 x 1.67

3125=78,281.25 x r/100

$3125 x 100 = 78,281.25 x r

$312500= 78,281.25

r=312500/78,281.25

r=3.992

r=4%

5 0
2 years ago
A professor decides to save paper by posting her syllabus on the university's web-based course application program instead of pr
LenaWriter [7]

Answer:

<u>Feedback</u>

Explanation:

In this question there is an example of feedback. This communication model occurred because after receiving the e-mail, the students asked the teacher about the message received via e-mail.

When a message is sent to a recipient and answered, feedback occurs. This answer is important for clear communication and for measuring the effectiveness of a message.

4 0
3 years ago
An avocado orchard employs five full-time workers.​ Currently, the average product of labor is 120 pounds of avocados per day. T
Elenna [48]

Answer:

125 pounds

Explanation:

Firstly, we need to know the total product of labor of the five full time workers.

This is equal to 120 * 5 = 600 pounds

The last worker is 150 pounds

The total now is 600 + 150 = 750 pounds

The average product of the six workers will now be 750/6 = 125 pounds

7 0
2 years ago
Each of these items must be considered in preparing a statement of cash flows for Pharoah Company. for the year ended December 3
zavuch27 [327]

Answer:

wasdwasdwaasdwasdwasdw 2wee2 1231 dsfdsf 324243

Explanation:

3 0
3 years ago
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