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kakasveta [241]
3 years ago
9

Smith, a single individual, made the following charitable contributions during the current year. Smith’s adjusted gross income i

s $60,000.
Donation to Smith’s church: $5,000
Art work donated to the local art museum
(Smith purchased it for $2,000 four months ago and a local art dealer appraised it for): $3,000
Contribution to a needy family: $1,000
What amount should Smith deduct as a charitable contribution?
a. $7,000
b. $8,000
c. $5,000
d. $9,000
Business
1 answer:
pishuonlain [190]3 years ago
3 0

Answer:

A) $7,000

Explanation:

Smith can deduct the $5,000 he donated to the church he attends. The art work donated to the local museum must be deducted at its basis, which is $2,000. Since he only purchased the painting 4 months before, the price increase will be considered a short term capital gain. Donated short term capital gain property must be deducted at basis.

The $1,000 he donated to the needy family is not deductible, since it wasn't a qualifying organization.

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3 years ago
________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering an
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Answer:

D.  Customer-perceived value

Explanation:

Customer-perceived value -

It refers to the method of marketing , where the needs and wishes of the consumers are considered to be very important for the good and services to be successful , is referred to as customer - perceived value .

As when the company creates any product , the likes and dislike of the consumers are always given the priority , in order to get the best results .

Hence , from the given information of the question ,

The correct option is D.  Customer-perceived value .

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3 years ago
Molave Furniture Company plans to launch a new website. Lila, the company's CIO, thinks that the company can better reach its cu
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Answer:

<u>e-commerce</u>.

Explanation:

When Molave ​​Furniture Company wants to launch a new website to customize the ability for customers to shop online and thereby increase sales, it is an e-commerce promotion strategy.

In order for Lila to be able to effectively promote e-commerce, it is essential that the focus is on optimizing the customer experience, the site must be easily accessible, as well as a logistics service that ensures agility in receiving goods, as well as a efficient after sales service to answer questions and resolve purchase related issues.

4 0
3 years ago
Kuong Inc. sold a commercial office building used in the corporate business for $1.5 million. Kuong purchased the building in 20
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Answer: $107,600 ordinary gain and $530,400 Section 1231 gain

Explanation:

Section 1231 property is when a business property that's either real or depreciable is held for more than one year. It should be noted that section 1231 gain which arises when the property is sold will be taxed at lower capital gains tax rate which is versus the ordinary income rate.

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7 0
3 years ago
All else being equal, a company with a low operating leverage will have:
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Answer:

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A business with a large amount of fixed cost relative to variable is said to have  a high operating leverage . For such business, operating income would  be more volatile because the operating income would not increase in commensurate proportion as sales revenue.

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Operating leverage is calculated as

Contribution /Earnings before interest  and Tax

5 0
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