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N76 [4]
3 years ago
12

Connor purchased an annuity that was to pay him a fixed amount each month for the remainder of his life. He began receiving paym

ents in 2003, when he was 65 years old. (see Exhibit 4.1) In 2019, Connor was killed in an automobile accident. What are the effects of the annuity on Connor's final tax return? The capital investment in the annuity can be as a on Connor's final tax return.
Business
1 answer:
stellarik [79]3 years ago
5 0

Answer:

Annuity received is taxable income at Conor's death and must be included in the gross income while filing tax return.

Explanation:

The amount received as an Annuity is taxable and must be included in the gross income while filing the tax returns. This means that the related costs will also be deducted e.g, fees paid, etc. However the return that wasn't received would not be considered as income as Conor didn't received it. Hence the annuity received is treated as taxable income and must be included in the gross income.

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Assume that marginal revenue equals rising marginal cost at 100 units of output. At this output level, a profit-maximizing firm'
shtirl [24]

Answer:

economic profits =  0

so correct option is a)zero

Explanation:

given data

output = 100 units

total fixed cost = $600

total variable cost = $400

price of product = $10 per unit

firm produces = 100 unit

to find out

firm earn an economic profit of Group

solution

we know here Total revenue is

Total revenue = 10 × 100 =$1000

and Total cost is here

Total cost = $400 + $600

Total cost = $1,000

so economic profits is express as

economic profits = revenue - cost

economic profits = 1000 - 1000

economic profits =  0

so correct option is a)zero

3 0
3 years ago
Nancy and Sheila are both loan officers who graduated from the same university with bachelors’ degrees in economics, and achieve
Jobisdone [24]

Answer:

The correct answer is letter "D": rewarding increases in human capital.

Explanation:

Rewarding increases in human capital refers to providing prizes and incentives to employees after obtaining certain knowledge within their functions or when they have achieved certain goals in the company. It is one of the most common promotion methods used by firms after which employees earn raises or a different charge.  

Entities motivating their human capital increase the chances of those individuals being more committed to the firm boosting their productivity.

7 0
3 years ago
On October 15 Wan Pollo borrowed $3000.00 for a bank at 10.5% interest. Wan plans to repay the loan on February 25. Assume the l
mixas84 [53]
$1260 in interest at 10.5% for four months
8 0
3 years ago
Thomas is a commercial broker. He is representing the buyer in the purchase of an apartment complex in Dallas. Thomas also repre
Burka [1]

Answer:

Yes,it is a classic case of fraud as Thomas owes the buyer a duty of disclosure of material facts

Explanation:

Fraud

This is simply defined as act of deception. It is an act carried intentional by an individual to get an unfair advantage over another person.

The deceptive trade practices act

This is simply a federal law set up by government. It watches over business, making sure that fraud and misrepresentation do not take place when companies provide products and services.

In real estate, the seller required to tell the buyer about the property's condition and nothing should be left Thomas is guilty of fraud for covering up and not disclosing all conditions or state of the property.

The tests for disclosure outlined by the courts includes

1. The seller must not obstruct the buyer's attempts to inspect the property. The "as is" clause must be an important element of the contract.

2. The buyer and seller must not be in a relatively unequal bargaining position

All known defects must be disclosed by the seller

4 0
3 years ago
Karl marx's primary disagreement with thomas malthus was his insistence that society was not overpopulated but that wealth neede
ELEN [110]
<span>This is, in fact, very true. Karl Marx believed that the wealth and financial gains available in the United States should have been better balanced throughout the population, however, Thomas Malthus believed the people who didn't have enough were a product of overpopulation.</span>
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