Answer:
$20,000.
Explanation:
The adjusted basis value and fair market value are used to determine an asset's worth.
The adjusted basis value simply describes the amount a property owner has invested in his or her asset. It equals the cost of acquiring the property plus the cost of maintaining it.
Fair market value of a business or asset is the general calculation to determine the value of an asset if it were to be sold.
A casualty is a sudden, unexpected, or unusual loss or damage to one's property. Examples are: hurricane, fire, tornadoes, flood, storm, car accidents e.t.c.
In case of a casualty, where the property was totally destroyed, the adjusted basis value will be calculated or used as the owner's loss.
Therefore, in Ann's case, where her business drying cleaning machine was destroyed by fire, her loss is her adjusted basis value which is $20,000.
Answer: Alicia has a very simple tax return and some degree of tax knowledge. She wants to file taxes without spending any extra money. What is her BEST option for filing taxes? Independently prepare her taxes.
Explanation:
Answer:
Price elasticity of demand is a measure of the change in the quantity purchased of a product in relation to a change in its price.
Explanation:
Answer:
Securities Exchange Commission (SEC)
Explanation:
Securities Exchange Commission (SEC) have a mission of protecting investors, ensuring a fair and efficient market, and encourage capital formation.
They monitor participants in the securities markets by ensuring there is disclosure of important information regarding the market, maintain fair dealing, and protect participants against fraud.
Therefore SEC has the authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public.
These measures are in place to protect investors.
Answer: $1,365.91
Explanation:
Shortfall = Expected GDP - Actual GDP
Expected GDP in 2009 is based on the premise that the economy has grown by 3% since 2007.
Expected GDP in 2009 will therefore be;
= 15,762 * ( 1 + 3%)²
= $16,721.91
Shortfall = 16,721.91 - 15,356
= $1,365.91