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love history [14]
3 years ago
11

Which of the following would not be classified as a material particiapant in an activity?

Business
1 answer:
Nadusha1986 [10]3 years ago
6 0

Answer:

C. MACRS depreciation expense.

Explanation:

Material participation in an income-producing activity. That is, an activity that is regular, continuous, and substantial leading to income-producing actions, in which the taxpayer materially participates is an active income or loss.

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<11{6[1(07)71]}> The higher the price of an antique, the greater people’s expectation that the object is rare. That, in tu
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Answer:

a. should be discouraged because it lessens a quality that makes that antique desirable

Explanation:

In pricing theory, the price for a good or service should increase as its scarcity increases. Now selling the antique at a bargain price will reduce the price of it and thereby making it less scarce and rare.

8 0
3 years ago
Vito is the sole shareholder of Vito, Inc. He is also employed by the corporation. On June 30, 2020, Vito borrowed $8,000 from V
otez555 [7]

Answer:

The first loan for $8,000 could fall under the exemption of employer-employee loan. But then after the second is taken, that exemption would no longer apply. A minimum interest of $18,000 x 4% x 6/12 = $360 should be charged.

If the loan is considered a corporation-shareholder loan, then it doesn't qualify for any type of exemption, resulting in interests = ($8,000 x 4% x 6/12) = $160 for 2020

for 2021, interest applied = [($8,000 + $160) x 4%] + ($10,000 x 4% x 6/12) = $326.40 + $360 = $686.40

3 0
3 years ago
Why are there a lot of construction jobs opening up for Millennials (younger<br> workers)?
nekit [7.7K]

Answer:

I'm assuming because they need more construction workers because nobody wants to have a job like that anymore

4 0
3 years ago
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Myra provides accounting services as an independent contractor for Great Northern. Because of this relationship, Great Northern
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The answer to this question is False
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A municipal bond is purchased at a discount. Over the course of the life of the bond, the book value is increased while the cust
jasenka [17]

Answer:

C) This is referred to as accretion of the security.

Explanation:

The security is amortized when the principal and interest is employed in paying down the debt.

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