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zzz [600]
3 years ago
5

Toby, owner of a cupcake shop in New York, is considering opening a similar business (i.e., a cupcake shop) in Phoenix. After sp

ending $4,200 investigating such possibilities in Phoenix, Toby decides against opening the store. What is the maximum amount of deduction for the current year attributable to these expenditures?A) $0B) $420C) $840D) $4,200
Business
1 answer:
crimeas [40]3 years ago
6 0

Answer:

D) $4,200

Explanation:

the business investigation expenses of a taxpayer who is already engaged in a similar trade or business are fully deductible in the year incurred regardless of whether or not the taxpayer goes into a new business.

Therefore, the maximum amount of deduction for the current year is

$4,200.

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A(n) _____ is in control of an agency relationship because he or she defines the tasks and objectives of the relationship./pract
NARA [144]

Answer:

Principal

Explanation:

The principal has the right to abolish the relation or set the objectives of the agent and allocation of task and authority delagated to the agent. This control is given to principal by law to protect his interests.

8 0
3 years ago
A statement of what is to be accomplished through marketing activities is called _______. a. a marketing objective b. market opp
Stolb23 [73]

A statement of what is to be accomplished through marketing activities is called marketing objectives.

Marketing objectives are defined, attainable goals created to not only offer general guidance but also drive actions. They are SMART goals, which stands for specific, measurable, achievable, relevant, and time-based (you've probably heard the acronym before!).

The main goals of marketing are maximizing earnings and achieving customer pleasure. Customer satisfaction: A company's main goal is to meet the needs of its consumers. Ensure Profitability: Marketing is run for profit, just like every other aspect of organization.

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5 0
2 years ago
You receive a text from a number claiming to be your credit card company that requires you to verify some suspicious charges usi
Yuki888 [10]

A phishing assault occurs when someone sends credit card-related emails, texts, or information and then clicks on a link to verify account information.

What is a suspicious charge?

The term "suspicious charge" refers to the feeling that somebody has done something wrong, fraudulent or illegal. Somebody misuses personal information and details.

Phishing is the process of obtaining vital or sensitive information for malevolent objectives, such as a username, password, code, current bank balance, and credit card information.

As a result, phishing scams are the most common type of attack.

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6 0
2 years ago
Exercise 1-16 Cost Classifications for Decision Making [LO1-5] Warner Corporation purchased a machine 7 years ago for $383,000 w
elena-s [515]

Answer:

Missing word <em>"2. What is the total sunk cost regarding the decision to buy the model 200 machine rather than the model 300 machine? 3. What is the total opportunity cost regarding the decision to invest in the model 200 machine?"</em>

<em />

1. Differential cost of buying model 200 machine = Cost of model 200 machine - Cost of model 300 machine

= $342,000 - $373,650

= -$31,650

We'll have a savings of $31,650 if model 200 is purchased rather than model 300

2. $383,000 (The Cost of existing machine). Note:  $383,000 is a sunk cost since it has already been incurred.

3. Opportunity cost is the total return of the project if the money was invested elsewhere. The Opportunity cost of investing in model 200 machine is $445,600 (Returns from the alternate project)

6 0
3 years ago
A company’s activities for Year 2 included the following: Gross sales $3,600,000 Cost of goods sold 1,200,000 Selling and admini
hichkok12 [17]

Answer: Option (B) is correct.

Explanation:

Net sales = Gross sales - Sale return

                = $3,600,000 - 34,000

                = $3,566,000

Gross profit = Net sales - COGS

                    = $3,566,000 - $1,200,000

                    = $2,366,000

Total Income = Gross profit  - S& A expense - Prior period expense + Gain on sale of securities + Gain on disposal of business segment

                      = $2,366,000  - $500,000 - $59,000 + $8,000 + $4,000

                      = $1,819,000

Net Income for Year 2 = Total Income - [email protected]%

                                      = $1,819,000 - $545,700

                                      = $1,273,300

3 0
3 years ago
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