Answer: See explanation
Explanation:
a. Terry was in the hardware store business and did not acquire the two hardware stores.
The amount that Terry will deduct in 2020 will be $52000 which is the deduction for all expenses.
b. Terry was in the hardware store business and acquired the two hardware stores and began operating them on October 1, 2020.
In this case, he'll also deduct $52000 which is the deduction for all expenses.
c. Terry did not acquire the two hardware stores and was not in the hardware store business.
None of his expenses will be deducted. The amount it be deducted is 0.
Answer:
A sales.
Explanation:
The uniform commercial code (UCC) is a set of standardized business laws which are put in place for the regulation of financial contracts and commercial transactions used across different states in the United States of America.
In this scenario, Mining Corporation purchases the business assets of Open Pit Inc., including its equipment and supplies, for an agreed-to price, payable in installments. Under the UCC, this transaction is a sales.
Answer:
With respect to Adjusted Gross Income we can not deduct anything. She will claim $10,000 in itemized deductions, subject to 2% deductions.
Explanation:
A budgeting procedure that includes the enter and negotiation of numerous layers of control describes the control philosophy of Participative budgeting.
The required details for Participative budgeting in given paragraph
Participative budgeting is a procedure below which humans impacted with the aid of using a price range are actively concerned within side the price range advent procedure. This method offers lower-stage managers a more feel of possession within side the ensuing price range. A basically participative price range does now no longer take high-stage strategic issues into account, so control desires to offer personnel with hints concerning the general path of the business enterprise and the way their man or woman departments suit into it. When participative budgeting is used for the duration of an business enterprise, the initial budgets paintings their manner up via the company hierarchy, being reviewed and probably changed with the aid of using mid-stage managers alongside the manner.
Advantages of Participative Budgeting
This bottom-up method to budgeting has a tendency to create budgets which might be greater workable than are top-down budgets which might be imposed on a business enterprise with the aid of using senior control, with tons much less worker participation.
To know about Participative budgeting click here
brainly.com/question/29304721
#SPJ4
1.tracking your spending 2.avoiding impulse purchases 3.using credit cards infrequently
