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never [62]
3 years ago
6

For an individual business owner, which of the following would typically be classified as a capital asset for federal income tax

purposes? a. Marketable securities. b. Inventory. c. Machinery and equipment used in a business. d. Accounts receivable.
Business
1 answer:
alisha [4.7K]3 years ago
6 0

Answer:

a. Marketable securities

Explanation:

A(correct one). Capital assets are able to cover all marketable securities unless the taxpayer becomes a dealer.

B -incorrect. The inventory is not such as capital although it is asset. It is fixed asset type

C-incorrect. The assets which are depreciable must be excluded from capital assets group. Because they will be fixed ones again.

D-incorrect. Accounts receivable of a business are excluded from the definition of capital assets. because they are the other section of accounting elements and not considered as asset at all.

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Smith operates a roof repair business. This year Smith's business generated cash receipts of $32,000 and Smith made the followin
rodikova [14]

Answer:

Net income = $20,940

Explanation:

Answer 1.

   

Accounts                                                                                                                

Cash Receipts                             32,000  

Expenses    

Advertising                    500    

Depreciation                 3,200    

Car & Truck Expense       1,360    

Employee Compensation  5,000    

Education                    1,000                          11,060  

Net Income                                               20,940  

   

Therefore, the net income that Smith should report from his business after considering all the cash receipts and all the expenditures associated with his business is $20,940. All the expenses are to be deducted from income.

6 0
3 years ago
Identify the type of process in business that includes purchasing materials and supplies used in manufacturing, managing invento
Sergio [31]

Answer: (D) Support process

Explanation:

 The support process is one of the type of primary process that helps in determining the main core functions and also the operations such as communication, accounting, managing and maintenance of an organization.

The main purpose of the support process is to manage the development and the configuration management in an organization.

According to the given question, the support process is refers to the business process which include the purchasing the various types of materials that is used in the manufacturing purpose such as installations and also managing the inventory system.  

 Therefore, Option (D) is correct answer.

4 0
3 years ago
What does an income statement show about a bank over a period of time?
Natali5045456 [20]
Reliability because it shows that you are responsible to pay
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Maurinko [17]

Answer:

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Explanation:

private placements are cheaper to market than public issues

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<span>The contestable market model of oligopoly bases pricing and output decisions on the threat of new entrants into the market. The oligopoly market form is where the market or industry is run by a small amount of sellers that can influence the price and other market factors.</span>
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3 years ago
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