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mestny [16]
3 years ago
14

The value of Terrah's personal residence has declined significantly because of a recent forest fire in the area where she lives.

The fire was a Federally declared disaster. Terrah's house suffered no actual damage during the fire, but because much of the surrounding area was destroyed, the value of all of the homes in the area declined substantially.Can Terrah take a casualty loss for the decline in value of her residence caused by the fire?__ because the decline in value of her residence ___ meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss
Business
1 answer:
Airida [17]3 years ago
5 0

Answer:

<u>No</u> because the decline in value of her residence <u>does not</u> meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.

Explanation:

Terrah's house suffered no actual damage because of a recent forest fire in the area where she lives. Terrah cannot take a casualty loss for the decline in value of her residence caused by the fire as the decline in value of her residence dose not meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.

Final answer:

<u>No</u> because the decline in value of her residence <u>does not</u> meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.

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Howard Corporation issued a 20-year mortgage note payable on January 1. On December 31, the unpaid principle balance will be rep
lubasha [3.4K]

Answer:

c. a long-term liability.

Explanation:

Short term liabilities are those liabilities which need to be paid within one year time and Long term liabilities are those liabilities which need to be paid after one year time.

In this question on December 31, Howard Corporation need to pay the principal in 19 years from now, as it it a long period, so amount of principal will be classified as a long-term liability.

3 0
3 years ago
Bennett Co. has a potential new project that is expected to generate annual revenues of $253,100, with variable costs of $140,00
Vlad [161]

Answer:

Hence, the annual operating cash flow is:  $44860

Explanation:

                                 Year 0    Year 1

Initital investment    

Inflows                                $253,100  

variable costs                       ($140,000)

fixed cost                             (53800)

Depreciton                         ($23,200)

Interest expense                 ($19,500)

Net cash inflows                   $16600 

Tax at 40%                           ($6640)

Net Cashinflows after tax      $9960

Add Depreciation                   $23,200  

Interest net of tax                   $11.700

Operating cashflows              $44860

Hence, the annual operating cash flow is: $44860

5 0
3 years ago
an example of the frictionally unemployed is a(n): Group of answer choices geologist who is permanently laid off from an oil com
Anna35 [415]

Answer:

real estate agent who leaves a job in Texas and searches for a similar, higher paying job in California

Explanation:

Frictional unemployment occurs when Labour leaves his job in search of another one. It is the period between Labour leaves current employment and get another one.

geologist who is permanently laid off from an oil company due to a new technological advance is an example of structural unemployment

worker at a fast-food restaurant who quits work and attends college is am example of voluntary unemployment.

autoworker who is temporarily laid off because of a decline in sales is an example of cyclical unemployment.

I hope my answer helps you

8 0
3 years ago
Bonita Industries uses flexible budgets. At normal capacity of 21000 units, budgeted manufacturing overhead is $168000 variable
Mrac [35]

Answer:

$22,000 Favorable

Explanation:

The computation of the difference between actual and budgeted cost is given below:

Budgeted Variable Manufacturing Overhead Per Unit is

= $168,000 ÷ 21,000 units

= $8

The Fixed Overhead = $360,000

Now

For 26,000 Units, total Overhead Should be:

Variable = 26,000 × 8 = $208,000

Fixed = $360,000

Total = $568,000

And,  

Actual Overhead Cost = $546,000

So,  

Difference between Actual and Budgeted Cost is

= $568,000 - $546,000

= $22,000 Favorable

6 0
2 years ago
________ asserts that our genes set the boundaries within which we can operate, and our environment interacts with our genes to
borishaifa [10]

Range of reaction asserts that our genes set the boundaries within which we can operate and our environment interact with our genes

Explanation:

Range of reaction is that the characteristics that are expressed in the individuals are the results of the change in the both genetic characters and the changes that occur in the environment

They are also influenced by other factors like that the things to which they are exposed and the rate at which they occur if the father is a foot ball player the child is also automatically exposed to that environment which alters the phenotype of the child

3 0
3 years ago
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