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Bumek [7]
3 years ago
9

Mike Hansen has adjusted gross income of $28,000. During the year, Mike decided he needed a larger home. He purchased a home on

a golf course in the same town as his first home. Mike incurred $7,500 in moving expenses. How much of this can he deduct from adjusted gross income?
Business
1 answer:
masya89 [10]3 years ago
4 0

Answer: The whole of $7,500 moving expenses

Explanation:Mike Hansen is entitled to the deduction of $7,500 moving expenses  from his adjusted gross income.  

The IRS now allows employees to deduct any moving expenses incurred by them to be deducted from their adjusted gross income before taxation.

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What is an industrial good?
zloy xaker [14]
Industrial goods are materials used in the production of other goods, while consumer goods are finished products that are sold to and used by consumers. ... They are made up of machinery, manufacturing plants, raw materials, and any other good or component used by industries or firms. In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not transferable.
4 0
3 years ago
The short-run break-even price A) is the price at which the firm's current liabilities are paid off. B) is the price at which a
kkurt [141]

Answer:

B. is the price at which a firm's total revenues equal total costs

Explanation:

The short run in economics is a period of time in which one factor of production is fixed and others are varied. In the short run, the market is not fully in equilibrium. Break even is the point in which the total cost used in the course of production is equal to the total revenue earned from the products produced. In a break even scenario, there is no profit and there is no loss. At this point, firms are making normal rate of return on money invested and are able to settle all cost of production.

8 0
3 years ago
Research indicates that when it comes to the diversification-performance relationship, the highest economic performance occurs w
gulaghasi [49]

Answer:

Related diversification strategy.

Explanation:

Related diversification is a business strategy in which a business enter a new industry which has some similarities with a company's existing business industry. The highest economic benefit will be achieved by a business if it enters into related diversification strategy.

3 0
2 years ago
Which one of the following statements concerning venture capital financing is incorrect? Multiple Choice Venture capitalists des
ziro4ka [17]

Answer:

The incorrect statement about Venture capitalists is:

Venture capitalists usually assume active roles in the management of the financed firm.

Explanation:

Venture capitalists are high net worth individuals with managerial competence or experience seeking for new businesses to invest in. In exchange, they ask for an equity stake in the company they finance.

Venture capital financing is the type of funds that are given to invested into viable businesses in their budding stage by investors that see long term growth potential in them. it is a form of private equity.

Venture Capitalist never assume active roles in the management of the financed firm. however, if they have the technical know how, they may pitch in passively from time to time to advice.

3 0
2 years ago
Based on the following information, what would be recorded as purchases discount if the invoice is paid within the discount peri
lisabon 2012 [21]

Answer:

$30

Explanation:

2/10 net 30 means the supplier extends 30 days credit to the purchaser. If the payment is made between 10 days and 30 days, no discount is allowed.

However if the payment is made within 10 days, 2% of net purchase price would be allowed as a discount by the supplier.

Now, Net Purchases = Total invoice price - freight - purchases returns

Net Purchases =  $2150 - $150 - $ 500

Net Purchases= $1500

Rate of discount = 2%

Purchases discount = 2% of 1500= $30 will be allowed if the payment is made within the discount period.

5 0
3 years ago
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