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adelina 88 [10]
4 years ago
7

Kendra is a self-employed taxpayer working exclusively from her home office. Before the home office deduction, Kendra has $6,000

of net income. Her allocable home expenses are $10,000 in total. How are the home office expenses treated on her current year tax return?
a. Only $6,000 home office expenses may be deducted, resulting in net business income of zero. The remaining $4,000 of home office expenses may be carried forward and deducted in a future year against business income.
b. All home office expenses may be deducted, resulting in a business loss of $4,000.
c, Only $6,000 of home office expenses may be deducted, resulting in a net business income of zero. None of the remaining $4,000 of home office expenses may be carried forward or deducted.
d. Only $3,000 a year of the home office expenses may be deducted.
Business
1 answer:
melomori [17]4 years ago
6 0

Answer:

The correct answer is A.

Explanation:

Only $6,000 home office expenses may be deducted, resulting in net business income of zero. The remaining $4,000 of home office expenses may be carried forward and deducted in a future year against business income.

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Andre works for a company that promotes an entrepreneurial culture. Employees are encouraged to discuss new ideas. Development t
gtnhenbr [62]

Answer:

Intrapreneurs

Explanation:

An intrapreneur is an employee who is responsible for creating new products in an organization. An intrapreneur is an individual who converts an idea into a finished product. An intrapreneur must possess the ability to create something unique, they must be self motivated individuals who are willing to take calculated risks inorder to achieve their goals.

An intrapreneur possess entrepreneurship skills, they must be able to inspire other employees to create something new because an organization will loose it's relevance if new products are not developed.

6 0
3 years ago
Below are transactions for Lobos, Inc., during the month of December. Calculate the amount of revenue to recognize in December.
Neporo4naja [7]

Answer:

Revenue recognized in Dec= $3200

Explanation:

Lets first understand the criteria for revenue recognition. According to the accruals concept of accounting, an entity is supposed to record revenues and expenses as soon as they are earned and incurred. An entity shouldn't wait until the revenue is received and expenses are actually paid. The accruals concept of accounting is also based on the matching principle which requires entities to match and record expenses with the revenue of the period in which they occur. Considering the two concepts mentioned above, we may classify these transactions for revenue recognition as follows;

a. Receipt of $1200 cash:

In this case Lobos Inc. has received the cash in advance and the services against this payment will be rendered next month, therefore, this transaction doesn't imply an earned revenue rather it's a liability for Lobos Inc until the services are actually rendered. No revenue is recognized in December.

b. Perform $900 of services:

Lobos Inc. will provide services to this customer and will receive payment in next month, however the services have been provided which implies Lobos Inc has earned the revenue, though not received it yet but still following the accruals concept, Revenue is recognized in December.

c. Perform $2300 of services:

Similarly, Lobos Inc. will render services and will receive the payment against these services in the month of Dec, therefore, Lobos Inc can recognize revenue in December.

7 0
3 years ago
Suppose that Italy and Portugal both produce cheese and wine. Italy's opportunity cost of producing a bottle of wine is 2 pounds
Lemur [1.5K]

Answer:

The correct answer is letter "A": Neither Italy or New Zealand.

Explanation:

Comparative advantage is the ability of an individual or organization to manufacture its products at a lower opportunity cost than its competitors. The scenario does not imply the individual has an absolute advantage. It actually means it sacrifices less to achieve that goal.

Thus, <em>Portugal has a lower opportunity cost than Italy in producing a bottle of wine. Portugal's opportunity cost is 1/2 while Italy's opportunity cost is 2. Neither Italy or New Zealand (or any other country not mentioned in the example) has a comparative advantage in producing wine</em>.

5 0
4 years ago
Customer experience management is a business science with the direct purpose of:
Paha777 [63]

As for customer experience management, Gartner sums it up pretty well in its definition: “the practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty and advocacy.”

Customer satisfaction (CSAT) is a metric for gauging how well a company's goods, services, and general customer experience live up to expectations. By demonstrating how well your goods or services are received by customers, it represents the health of your firm.

In marketing, the phrase "customer satisfaction" is commonly used. It evaluates whether a company's goods and services meet or exceed customers' expectations.

Learn more about customer satisfaction here

brainly.com/question/25085148

#SPJ4

4 0
2 years ago
Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the
Marina86 [1]

Answer and Explanation:

The Preparation of the company's revenue and spending variances for December is prepared below:-

The report with respect to the company revenue and spending variance is presented in the attachment below

The revenue refers to the sales of the company

And, the spending variance refers to the difference between the actual amount of expenses incurred and the budgeted amount of expenses incurred. The same is shown in the below attachment.

8 0
4 years ago
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