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Troyanec [42]
3 years ago
5

An individual client asks a CPA to determine whether the client is solvent for federal tax purposes. The client has assets consi

sting of cash and marketable securities with a basis of $250,000 and a fair market value of $155,000. The client has liabilities of $175,000, which include $130,000 of non-dischargeable liabilities under the Bankruptcy Code. Which of the following statements is correct?
Business
1 answer:
allochka39001 [22]3 years ago
6 0

Answer:

The client is insolvent since the client's liabilities exceed the fair market value of the client's assets by $20,000

Explanation:

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A firm reported ($ in millions) net cash inflows (outflows) as follows: operating $65, investing ($198), and financing $358. The
igomit [66]

Answer:

$482

Explanation:

The ending cash balance of the firm can be calculated using the below formula:

Ending cash balance=Opening cash balance+operating cash flow+investing cash flow+financing cash flow.

In this question:

Opening cash balance=257

Operating cash flow=65

Investing cash flow=(198)

Financing cash flow=358

Ending cash balance=257+65+(198)+358=$482

5 0
3 years ago
Pizza is a normal good if the demand Group of answer choices
levacccp [35]

Answer:

Option A, For Pizza rise when income rises.

Explanation:

Option A is correct because the income of the consumer and the demand for normal goods are positively related. So when consumer's income increases then the demand for normal goods also increases. If the income falls then the demand for normal goods also falls. Therefore, the movement in the same direction shows that there is a direct relationship between normal goods and the income of the consumer.

5 0
4 years ago
A July sales forecast projects that 7,300 units are going to be sold at a price of $11.80 per unit. The management forecasts 15%
lana66690 [7]

Answer:

Budgeted sales= $86,140

Explanation:

Giving the following information:

A July sales forecast projects that 7,300 units are going to be sold at a price of $11.80 per unit.

<u>The budgeted sales are calculated by multiplying the sales in units with the selling price per unit:</u>

Budgeted sales= 7,300*11.8= $86,140

6 0
4 years ago
How can producers maximize their profit? Check all that apply.
I am Lyosha [343]

Answer:

They can work to decrease their marginal cost.

They can raise prices to increase marginal revenue,

They can keep marginal costs below marginal revenues,

Explanation:

Marginal cost is the additional expense incurred by producing an extra unit. Marginal revenue is the extra profit realized by selling an additional product or service. To maximize profits, firms should stop selling and production activities when the marginal cost equal to marginal revenue.  A profit-maximizing firm is profitable when marginal revenue is greater than or equal to marginal cost.

Profit is obtained by deducting expenses from revenue. To increase profits, a firm should put more effort into increasing revenues while minimizing costs.  A profit-maximizing firm should, therefore, work hard to decrease marginal cost and improve its marginal revenue.

8 0
3 years ago
Question 11
Leni [432]

The personal guarantee corresponds to the document signed by Marcelino as a contractual protection.

<h3 /><h3>What is the personal guarantee?</h3>

It is a legal protection for credit-issuing companies, which guarantees the responsibility for paying debts with the use of the individual's personal assets if the contracting company is unable to bear such expenses.

Therefore, the personal guarantee is a form of legal protection guaranteed by a risk reduction contract to business partners.

Find out more about contract here:

brainly.com/question/5746834

#SPJ1

3 0
2 years ago
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