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Korolek [52]
3 years ago
14

Samantha, who is single and has MAGI of $28,000, was recently employed by an accounting firm. During the year, she spends $2,500

for a CPA exam review course and begins working on a law degree in night school. Her law school expenses were $4,200 for tuition and $450 for books (which are not a requirement for enrollment in the course).
Assuming no reimbursement, how much can Samantha deduct for the:

a. CPA exam review course? $X
b. Law school expenses? $X
Business
1 answer:
gregori [183]3 years ago
6 0

Answer:

a. CPA exam review course $0

b. Law school expenses $4,000

Explanation:

1a. CPA exam review course will be $0 because the IRS has disallowed any costs that will lead to qualifying for a different trade .

1b. The Law School expenses will be $4,000 . Based on section 222, Samantha is been limited to $4,000 of the tuition paid.

Therefore the balance of $650 is excess tuition $200 + $450 books which will not qualify under the regular education expense deduction due to the negative position of the IRS on law school costs.

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Which of the following statements is true?
Rzqust [24]

Answer:

The correct answer is option c.

Explanation:

An oligopoly market is a form of imperfect competition where there are a few firms. These firms can produce identical or differentiated products. Because of a few firms in the market, there is a high degree of competition in the market.  

These firms are interdependent such that the economic decisions of a firm affect its rivals. So each firm has to consider the reaction of its rivals before making decisions.

The firms are price makers and face a downward-sloping demand curve.

6 0
3 years ago
Warrants exercisable at $20 each to obtain 30,000 shares of common stock were outstanding during a period when the average marke
aivan3 [116]

Answer:

The increase in weighted average number of common shares is by 6,000 shares

Explanation:

Application of treasury method is used for exercising the warrants.

Outstanding Common shares = Number of shares / Market price * Exercisable price

= 30,000 shares / $25 * $20

= 24,000 shares

After the warrants have been exercise, the increase in weighted average number of common shares is as follows:

Increase in weighted average number of shares = 30,000 shares - 24,000 shares

= 6,000 shares

Thus, the increase in weighted average number of common shares is by 6,000 shares.

3 0
3 years ago
True or False: The term "Attribute" is used frequently in Marketing. The textbook refers to ATTRIBUTE SETS; Universal, Retrieval
Flauer [41]

Answer:

True

Explanation:

Attribute refers to a trait or quality in general which distinguishes objects and things from one another.

In context of marketing, an attribute conveys a product feature which is regarded to be appealing to the buyers and provides utility. It represents quality and characteristics or product traits which distinguish one product from another in the marketplace.

Such unique traits could be w.r.t varying color, size, features, different functions which could act as determinants w.r.t a consumer's acceptance of such a product.

Product attributes are capable of universally inducing and evoking consumer behavior in their purchase decisions and also drawing repetitive purchases from such consumers.

4 0
3 years ago
Martha, a marketing researcher, is currently analyzing the information collected and determining what possible opportunities it
tatyana61 [14]

Answer:

Interpreting information

7 0
3 years ago
If the inflation rate is 10 percent and the real interest rate is 12 percent, the nominal interest rate is:
AlexFokin [52]

Answer:

nominal interest rate= 0.2= 22%

Explanation:

Giving the following information:

Inflation rate= 10%

Real interest rate= 12%

<u>The real interest rate is the result of deducting from the nominal interest rate the inflation rate. Inflation has the opposite effect than interest.</u>

<u></u>

Real interest rate= nominal interest rate - inflation rate

nominal interest rate= real interest rate + inflation rate

nominal interest rate= 0.12 + 0.10

nominal interest rate= 0.2= 22%

7 0
3 years ago
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