Answer:
government give people social distress grant of 350
also government build school for children
government must find cure to virus
Answer:
Sole Proprietorship and Partnerships both have unlimited liability.
An advantage to Corporations as a business organization is that they enjoy unlimited life and limited liability.
Explanation:
A disadvantage of both sole proprietors and partnerships business is having unlimited liability because if the sole proprietors and partnership businesses loss, they have to pay the debt by selling their assets.
Corporations cannot be dissolved if any director or executive officer dies, and owners are liable up to that portion they have invested for the corporation.
Answer:
a. Recognized gain = $ 0
b. Taxes basis = 14.000
Explanation:
a) Solution :- If the exchange is non-taxable :-
Realized gain = 35.000 - 14.600 = $ 20.400.
Recognized gain = $ 0. (The exchange situation falls / comes in the ambit of Section 1031 of IRS Code.)
Tax basis in the new asset = 14600 + 9500 = $ 24100.
Question b). Solution :-
Realized gain = 14000 + 21000 - 14600 = $ 20400.
Recognized gain = $ 20400 (Lesser of realized gain or boot received i.e., lesser of $ 20400 or $ 21000)
Tax basis in the new asset = 14600 + 20400 - 21000 = $ 14000.
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