Answer:
a) $0
b) $4,000
Explanation:
a)
No deduction will be allowed to samantha for the amount spent on CPA exam review course.
So, Samantha can deduct $0.
b)
Under section 222 of IRS Code, maximum amount of deduction allowed to tax payer (whose adjusted gross income is less than $65,000) on account of tuition fees and other education expenses is $4,000.
So, Samantha can deduct $4,000.
Hope this helps!
Answer:
I think Quantitative data
Explanation:
I'm sry if I'm wrong
Answer:
a. Accept the order
b. Increase in short-term profit of $50,000
Explanation:
<em>Note : Blowing Sand has "enough excess capacity" this means that fixed cost will be the same in the range or they will be ocurred whether or not the special order is accepted.</em>
Therefore fixed costs are Irrelevant for this decision.
<u>Incremental Costs and Revenues - accept the special order</u>
Sales ( 10,000 units × $22 each) $220,000
<em>Less</em> Variable Costs ( 10,000 units × $17each) ($170,000)
Net Income $50,000
The special order will result in an increase in short term profit of $50,000. Therefore, Blowing Sand Company should accept the order.
To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
<h3>What is faithful representation?</h3>
Faithful representation can be defined as the financial accounting concept that stated a company financial position which they present should be correct with what the company has as their financial statement.
It is paramount that a company a financial statement is accurate to what they present in the financial statement and should not be compromise.
Therefore To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
Learn more about Faithful representation here:brainly.com/question/14506917
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Answer:
The correct answer is (E) continued to pour money into the stock market in the belief that the American economy was
Explanation:
Inflation can affect cash flows to a greater or lesser extent, depending on their nature. Thus inflation could affect sales prices more, or costs. The entrepreneur generally fights inflation trying to reduce costs and maintain competitive prices, but he can not against generalized inflation in the economy, and consequently his cash flows could be, in real terms, increasingly lower, by the loss of the power to buy money. In this way, inflation encourages investments with rapid recovery and that require less capital investment.
