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pantera1 [17]
3 years ago
5

A self-employed taxpayer buys a new business automobile during the year. What method is permitted in computing car and truck exp

enses on Schedule C?
a. The actual cost method
b. The standard mileage rate method
c. Either the actual cost or the standard mileage rate method
d. The actual mileage method
e. None of the above
Business
1 answer:
Rom4ik [11]3 years ago
6 0

Answer:

The correct answer is letter "B": The standard mileage rate method.

Explanation:

Vehicle expense deductions are offered on Schedule C for self-employed taxpayers. If the vehicle expenses are itemized and are not part of a regular loan, part of the lease payment can be considered as a business expense. This is provided thanks to the standard mileage rate deduction. Parking and tolls can also be subject to deduction.

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3 years ago
A company has two options for manufacturing boots. The manual process has monthly fixed costs of $26,380 and variable costs of $
oee [108]

Answer:

Break-even point for the manual process= 281.11 unit

Explanation:

<em>Break-even point is the level of activity at which a firm must operate such that its total revenue will equal its total costs. At this point, the company makes no profit or loss because the total contribution exactly equals the total fixed costs</em>.

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Break even point in units = Total general fixed cost/ (selling price - Variable cost)

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Break-even point for the manual process= 281.11 units

6 0
3 years ago
Virginia sees Carl, with whom she attended high school 15 years ago, driving near her in rush hour traffic. She honks and waves
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Answer:

The answer is true

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8 0
4 years ago
Which of the following is true about bonds?
nata0808 [166]

Answer:

B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.

A municipal bond can be defined as a type of bond that is typically issued by a municipality, county, local government or state in order to finance or sponsor capital expenditures for the public such as water supply, construction of roads, etc.

Hence, the primary advantage to municipal bonds is that interest income received on this type of bond is not taxed by the federal government.

8 0
3 years ago
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