Answer: Andrew
Explanation: Andrew can claim Zach as a dependent because Zach lives with him, and at Zach's age where he cannot earn his own living, Andrew is responsible for him financially throughout the tax year while Lacy stopped living with Zach on September 25.
To claim a dependent on a tax return, you have to be responsible financially for the person. Other factors that make claiming child as a dependent possible are:
Relation by blood or marriage.
Age: under 19 or less than 24 if a full time student,unless he/she is disabled in which case there is no age limit.
In addition, only one person can claim a person as a dependent. So in this case both parents cannot claim Zach as a dependent, only one can.
Answer:
The correct answer is D
Explanation:
Cash conversion cycle is defined as the number of days from the purchase date of inventory to the cash inflows from the customers.
The formula for computing the cash conversion cycle is as:
Cash conversion cycle = Days sales outstanding (DSO) + Days inventory outstanding (DIO) - Days Payable Outstanding (DPO)
where
DSO is 36.5
DPO is 24.8
DIO is 59.1
So,putting the values above:
Cash conversion cycle = 36.5 + 59.1 - 24.8
Cash conversion cycle = 95.6 - 24.8
Cash conversion cycle = 70.8 days
Answer: $954,000
Explanation:
Thw difference in the final inventory between the FIFO and the LIFO method in 2018 will be:
= $712,000 - $636,000
= $76,000
Then, based on the above information, a change to the LIFO method in 2018 would result in net income for 2018 of:
Net income as per FIFO = $1,030,000
Less: Decrease in income = $76,000
Net income as per LIFO = $954,000
<u>Answer: </u>Option A
<u>Explanation:</u>
Here there is a price drop of 10% in the tickets while there is 8% increase in attendance which means there is inelastic situation. It denotes that the quantity demanded of the product is less than the price change.
When the demand increases in equal quantity to price then it is unit elastic. Perfectly elastic means when there is just 1% decrease in price of tickets then the demand quantity is infinity. Elastic means there is huge percentage change in quantity demanded than the price change.