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bagirrra123 [75]
3 years ago
5

An office building owned by Milo was destroyed by Hurricane Mel on September 25, Year 4. On October 2, Year 4, the President of

the United States declared the area where the office building was located a federal disaster area. Milo received settlement of his insurance claim for the destruction of his building on January 2, Year 5. In order to qualify for nonrecognition of gain on this involuntary conversion, what is the last date for Milo to acquire qualified replacement property
Business
1 answer:
Anon25 [30]3 years ago
3 0

Answer:

December 31, year 9

Explanation:

Here, we want to state that date that is possible for Milo to acquire qualified replacement property.

In order to avoid being taxed on a gain resulting from an involuntary conversion, the property subject to the conversion must be replaced within a specified time, measured from the end of the calendar year in which the proceeds are received.

Generally, the period is 2 years, but it is 3 years when the involuntary conversion results from government condemnation or eminent domain and is extended to 4 years when the loss is in connection with a declared federal disaster area.

We are told from the question that Milo received the recovery on January 2, Year 5, the property would have to be replaced within 4 years from the end of Year 5 or by December 31, Year 9

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The work of Venture Philanthropy Partners in focusing on low-income families would make it a<u> Community Fund </u>

A Community Fund:

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<u>Venture Philanthropy Partners</u> is targeting youth and children that come from lower income families which means that they are targeting the needs of the less well off.

We can therefore conclude that this is a community fund.

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2 years ago
What tends to cause structural unemployment?<br> Economics
Yuri [45]

Answer:

Structural unemployment occurs because workers lack the requisite job skills or live too far from regions where jobs are available and cannot move closer. Jobs are available, but there is a serious mismatch between what companies need and what workers can offer.

Explanation:

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3 years ago
A man earns Rs.450 in a month and spends 85% of his income.what does he save?
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He saves Rs. 67.5 (take 450 times .85- since its a % and then subtract that from 450)
8 0
3 years ago
How does the dynamic model of aggregate supply and aggregate demand explain​ inflation? A. by showing that if total spending in
boyakko [2]

Answer:

The correct answer is option A.

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The dynamic model of aggregate supply and aggregate demand shows that if an economy the total spending in the economy increases faster than total production, there will be a shortage. This shortage will cause the price level to increase and will ultimately lead to inflation.  

When the increase in aggregate demand is greater than the increase in aggregate supply, it will create a shortage in the economy. The demand for goods and services will be more than the supply of goods and services. This will cause the price level to increase.

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3 years ago
Suppose that a monopolist sells a product to men and women. If the firm sets a single price, the monopolist would produce 100,00
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Monopolist can charge a higher price from women.

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A monopolist is producing 100,000 units of a product.  

The price of the product is $5 per unit.  

The price elasticity of demand for men at this price is -3.5.

The price elasticity for women, on the other hand, is -0.8.

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In this situation, the firm can charge a higher price from women. This is an example of third-degree price discrimination.

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