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3 years ago

An antique dealer buying items and hoping to sell them for more than he or she paid for them is the very definition of a:

1 answer:

3 0

An antique dealer buying items and hoping to sell them for more than he or she paid for them is the very definition of a business. A business is economic system that includes commercial and industrial activities through production and sales or exchange of goods and services.
In every business there are investment and customers . In this case the investment is buying antiques and the customers are people interested in antique works.

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Freeman, Inc., reported net income of $40,000 for 20A. The income tax return excluded a revenue item of $3,000 (reported on the

DaniilM [7]

Answer:

The correct option is D,$900(credit)

Explanation:

The revenue omitted would be increase revenue in the year 20B ,as result net income would also be increased,hence the tax impact of it in the future that should be taken record of now is a deferred tax liability,a tax payable in the year 20B.

The amount of tax deferred is the omitted revenue multiplied by the tax rate of 30% i.e

deferred tax =$3000*30%=$900

This would be credited to deferred tax liability and debited income tax expense.

3 0

2 years ago

Jane Doe earns $58,800 per year and has applied for a(n) $99,000, 30-year mortgage at 9 percent interest, paid monthly. Property

Mashcka [7]

Answer:

GDS ratio is 28.12% and is less than the maximum of 30%,hence Jane would be able to get the mortgage

Explanation:

The gross debt service ratio is a measure of the ease with which mortgage holders can repay their housing loan.It compares the yearly property obligations with the yearly income of the mortgage holder.

Gross Debt Service ratio=yearly obligations/yearly income

yearly obligations=property taxes+yearly mortgage repayment

property taxes is $6,900

mortgage repayment=pmt(rate,nper,-pv,fv)

rate is 9%

nper is the duration mortgage of 30 years

pv is the present value of mortgage

fv is future value of mortgage,it is not known,hence taken as zero

=pmt(9%,30,-99000,0)=$9,636.30

yearly obligations=$6,900+$9,636.30=$ 16,536.30

GDS = 16,536.30/58,800=28.12%

5 0

3 years ago

How does purchase a car affect the economy?

IRISSAK [1]

It effects the economy because that's another car that is having to take up oil and is another step to wasting natural resoources. Also the cars fumes pollute the air and everywhere around us.

6 0

3 years ago

There have been several instances in the last 150 years when valuable materials such as diamonds have been found contained in gl

Lana71 [14]

Answer:

Lateral moraine

Explanation:

It is important to note the duration of years here; 150 years ago. The Lateral moraine is a very familiar image when dealing with glaciers.

Therefore, the Lateral moraine would be most useful for tracing valuable gold deposits back to their bedrock source area since it is also an unconsolidated debris that is found on the side of glaciers.

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3 years ago

On August 31, 2021, Shocker borrows $57,000 from a local bank. A note is signed with principal and 9% interest to be paid on Aug

vladimir2022 [97]

9% interest to be paid on August 31, 2022, is $1,710.

The price of return that lenders call for for the ability to borrow their cash. for example, the interest rate on credit playing cards is quoted as an APR. In our instance above, four% is the APR for the mortgage or borrower. The APR does not keep in mind compounded interest for the yr.

There are some public sectors in addition to private zone banks in India. although every bank, typically has a different range of interest price for savings bills, the rates commonly range from 2.70% p.a. to six.25% p.a. 2.70% p.a. to 6.50% p.a.

Paid interest is a hobby you've already been credited or paid for. As noted, before virtually having access to the hobby, it's really accruing. however, once that sum hits our account or balance, it is now known as a paid hobby.

Learn more about bank interest here:-brainly.com/question/15728540

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7 0

1 year ago

An antique dealer buying items and hoping to sell them for more than he or she paid for them is the very definition of​ a:

An antique dealer buying items and hoping to sell them for more than he or she paid for them is the very definition of a: