Answer:
Kate policy will pay 1500 dollars while Johns policy will pay 250 dollars
Explanation:
kates policy will pay 1500 dollars while johns policy will pay 250 dollars.
Since Kates deductible is 500 dollars, this deductible will be subtracted from the 2000 dollars collission loss that occurred when John borrowed her car. which gives $1500. therefore her policy will get to pay 1500 dollars. while johns policy will have to pay $250
Answer:
a. may be carried back 2 years or carried forward up to 20 years.
Explanation:
As a tax relief to a firmn which current year ended in a loss the government allow to deduct this from the future profit up to 20 years or to reduce the tax obligation for the previous two years
This makes the tax system more just as it is not considering only the good years of the organizations. It also has a particular importance in business which the first years are losses (vineyard or walnuts until the wine is done or the trees generate enough production to pay up the cost) as they can later reduce their gain to compensate for the first years.
Answer:
Convert the bonds into 20 common stocks.
Explanation:
the investor has 3 options:
- sell the bond at $1,000 x 1.005 = $1,005
- sell the bond to the corporation at $1,000 + $10 = $1,010
- convert the bond into 20 common stocks = 20 x $51 = $1,020
the option that yields the highest return is to convert the bonds into common stocks.
Answer:
actual quantity= 93,750 pounds
Explanation:
<u>To calculate the actual quantity of direct materials, we need to use the following formula:</u>
Direct material quantity variance= (standard quantity - actual quantity)*standard price
18,750= (10,000*10 - actual quantity)*3
18,750= 100,000*3 - 3actual quantity
3actual quantity= 281,250
actual quantity= 281,250/3
actual quantity= 93,750 pounds
Answer:
B. progressive
Explanation:
In a progressive tax system, the tax rate imposed on individuals and firms is based on their income levels. A low tax rate is applied to low-income earners. As income levels increases, the tax rate also increases. This means that the poor are taxed using lower tax rates compared to the wealthy.
A progressive tax system promotes equity and fair distribution of wealth. The poor have little; hence pay low taxes while the rich pay higher amounts.
