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TiliK225 [7]
3 years ago
12

For purposes of determining gross income, which of the following is true?a. A mechanic completed repairs on an automobile during

the year and collects money from the customer. The customer was not satisfied with the repairs and sued the mechanic for a refund. The mechanic can defer recognition of the income until the suit has been settled.b. A taxpayer who finds a wallet full of money is required to recognize income even though someone may eventually ask for the return of the money.c. Embezzlement proceeds are not included in the embezzler's gross income because the embezzler has an obligation to repay the owner.d. All of these are false.e. All of these are true.
Business
1 answer:
julia-pushkina [17]3 years ago
4 0

Answer:

Letter b is correct. <em>A taxpayer who finds a wallet full of money is required to recognize income even though someone may eventually ask for the return of the money.</em>

Explanation:

This question is correct because its principles are related to correct doctrine. This doctrine is recognized by United States tax law on the principle that a taxpayer who receives income, even if he is not entitled to it, must qualify income as received. So in this case, even if a person has found an income that is not his property, he must by law include that property in his gross income.

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10.45 %

Explanation:

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3 years ago
Whatever, Inc., has a bond outstanding with a coupon rate of 5.87 percent and semiannual payments. The yield to maturity is 6.9
leonid [27]

Answer:

Market price of the bond = $912.53

Explanation:

YTM = 6.90%

Coupon rate = 5.87%

Number of compounding per year = 2

YTM Per perid = 0.0345

Years = 13

Number of period = 26 (Nper)

Par value = 1,000

Semi annual coupon rate = 0.02935

The semi annual coupon payment = Par value * Semi annual coupon rate = 1,000 * 0.02935 = $29.35

Market price of the bond = PV(YTM, Nper, Semi annual coupon payment,Par value)

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6 0
3 years ago
How might an interactive leader like Mary Barra communicate a policy change that impacts all GM employees from executive-level m
Andrej [43]

Answer:

b. Create task forces at different levels of the organization that communicate the benefits of the policy change

c. Hold a series of town hall meetings to discuss the policy change and listen to employee concerns

d. Hold informal meetings with key managers, department heads, and staff employees to discuss the policy change to develop best practices for communicating the change to other employees

Explanation:

An Interactive leader is a leader who seeks the opinion of his or her followers regarding issues in order to achieve a desired goal.

Mary Barra can communicate a policy change that impacts all GM employees from executive-level managers to assembly line workers by creating task forces at different levels of the organization that communicate the benefits of the policy change. This will help in passing the message across to the workers effectively and quicker.

Holding a series of town hall meetings to discuss the policy change and listen to employee concerns is also vital as the purpose of the policy change can be discussed and the opinions of other with regards to the change can be known.

Lastly, holding of informal meetings with managers, department heads, and staff employees is also essential so that the information can be passed across to the employees in each department and the workers all work towards achieving a common goal.

7 0
2 years ago
The largest source of federal revenue are ____ taxes.
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<u><em>D. Personal Income</em></u>

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