1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mylen [45]
3 years ago
12

Like-kind property is real property held for investment or use in a trade or business exchanged for real property held for inves

tment or use in a trade or business. Taxpayers must defer gain or loss realized on the exchange of like-kind property.True / False.
Business
1 answer:
lubasha [3.4K]3 years ago
6 0

Answer:

True

Explanation:

Like-kind property is real property held for investment or use in a trade or business exchanged for real property held for investment or use in a trade or business.

However, Taxpayers must defer gain or loss realized on the exchange of like-kind property.

You might be interested in
One advantage of increasing your own responsibilities is that you
lara31 [8.8K]
The answer is: A - have more control.
3 0
2 years ago
Read 2 more answers
Buzz Coffee Shops is famous for its large servings of hot coffee. After a famous case involving McDonald’s, the lawyer for Buzz
Tasya [4]

Answer:

the proper recording of this liability each year from 2016 through 2018 under GAAP is $150,000.

Explanation:

since the first amount cannot be determinable now, we cannot record it as a liability.

After the settlement of the dispute by the customer and company outside the court the company should record the loss and a liability at an amount of $150,000 because it is certain and determinable now.

7 0
3 years ago
What is the most acceptable and easy way to revise a budget to allow for the purchase of a new couch? Cancel renters' insurance.
Aleksandr-060686 [28]

Answer:

cook dinners at home instead of going out to eat

7 0
3 years ago
Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has dec
Julli [10]

Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

8 0
2 years ago
An economist has predicted 2% inflation during the next 10 years. how much will an item that presently sells for 100 cost in 10
VikaD [51]

Answer:

With 2% inflation during the next 10 years, an item that presently sells for 100 will cost 102 in 10 years' time.

Explanation:

However, if the predicted inflation rate of 2% happens year on year, then the cost of the item will become 121.90 (100 (1+ 2%)∧10), compounded annually.  In itself, inflation is the decline of the purchasing power of a given currency over some period of time.   It is a quantitative measure of the rate at which the decrease in the purchasing power of the selected currency occurs, and how this is reflected in the price level of a basket of selected goods and services in that economy over some period of time.

4 0
3 years ago
Other questions:
  • Your friend Amanda suffers from a condition that reduces her blood's ability to carry oxygen. Which of the following is the name
    8·2 answers
  • A. alice produces more lemonade and betty produces more pizzas.
    14·1 answer
  • Jamie Nelson works for a telephone company. She is interested in determining the satisfaction of the customers with the service
    9·1 answer
  • At the beginning of the year, a firm had current assets of $121,306 and current liabilities of $124,509. At the end of the year,
    14·1 answer
  • Describe at least two non-discretionary expenses that you expect to have at some point in your life.
    12·1 answer
  • Tool Manufacturing has an expected EBIT of $82,000 in perpetuity and a tax rate of 24 percent. The company has $143,500 in outst
    8·1 answer
  • Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
    14·1 answer
  • The Depression transformed and shattered the expectations of the ""American way of life."" Which are examples of the new reality
    5·1 answer
  • A proposal that has significant support among policymakers regardless of political party is the need to modernize the nation's i
    6·1 answer
  • The Consumer Products Division of Goich Corporation had average operating assets of $800,000 and net operating income of $81,300
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!