Answer:
Gift tax is not an issue for most people
Explanation:
The person gifting files the gift tax return, if necessary, and pays any tax. If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2020), the giver must file a gift tax return.
Answer:
d. the camry becomes an inferior good because the good is now perceived as lower in quality than a lexus
Explanation:
There are a number goods that over time, for a variety of reasons, transition from being a normal good to an inferior good or from being an inferior good to a normal good. One such example of a good is the Toyota Camry. In the 1980s, more income for a household usually resulted in more Camrys being purchased. However, today more Toyota Camrys are purchased by households that have experienced a reduction in income.
How could this happen?
<u>This could only have happened because of a change in perception in households over time. </u>
It is stated in the Scenario that ''today more Toyota Camrys are purchased by households that have experienced a reduction in income.''
<u>That means Toyota Camry has become an inferior good that is purchased more when income falls.</u>
<u>Hence, the only reason the scenario would have occurred is that the camry becomes an inferior good because the good is now perceived as lower in quality</u> than a lexus
I think it’s the continual system
Answer:
A. Increase employee participation and decrease managerial control.
Explanation:
Unions are basically the key to decrease managerial control as much as possible and increase the power wielded by the workers.
Answer:
The corporation's current earnings and profits for 20X3 would be $603,000
Explanation:
The computation of the current earnings and profits are shown below:
= Taxable income - federal income taxes - disallowed penalty + insurance proceeds
= $800,000 - $272,000 - $25,000 + $100,000
= $603,000
The federal income tax refund would not be considered in the computation part. Hence, it is ignored.
