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mojhsa [17]
3 years ago
13

Deet, an unmarried taxpayer, qualified to itemize deductions. Deet's adjusted gross income was $40,000 and he made a $1,500 subs

tantiated cash donation directly to a needy family. In the same year, Deet also donated art, valued at $11,000, to a local art museum. Deet had purchased the artwork two years earlier for $2,000. What was the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return
Business
1 answer:
Blababa [14]3 years ago
4 0

Answer:

$11,000

Explanation:

Based on the information given What will be the MAXIMUM AMOUNT OF THE CHARITABLE CONTRIBUTION ALLOWABLE as an itemized deduction on Deet's income tax return will be the amount of $11,000 which represent the amount the art value that Deet donated to the local art museum which was valued at $11,000.

Therefore the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return is $11,000

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Although e-mail has replaced paper memos for many messages inside organizations and for some letters to external audiences, hard
prohojiy [21]

Answer: True.

Explanation:

With the rise in the use of email to communicate during a business transaction, the hard-copy message still has a higher value than the emails: this is because hard copy messages can easily be kept for reference purposes and also they most times bear the stamp and signature of the person(s) transacting the business.

7 0
3 years ago
Is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and contro
frez [133]

The correct answer is:  " management" .

____________________________

      "  <u>  Management  </u>  is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources. "

____________________________

An effective "mnemonic" for these 4 (four) components of management is:

"PLOC" ;  or more appropriate, in the order in which they occur:  "POLC" .

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Note that "organizational resources" include "data" (e.g. data management) ; as well as management of employees among various departments; hierarchies of management among departments;  supply chain marketing and management, and labor-management relations and human resources management.

Effective management skills include:  conceptual skills, technical skills, and human skills.

____________________________

4 0
3 years ago
Jody is an agent for Kwik Credit Company (KCC). In the course of Jody's performance for KCC, Jody pays Leo for certain auto main
Serjik [45]

Answer:

D. Reimbursement

Explanation:

A principal may be defined as a company's agent dealing with a contractor. The principal has the duty to reimburse an agent for the amount of money used up while carrying out his/her duty. Reimbursement may be from expenses like cost of travelling, cost of meals, cost of lodging and so on. In other words, if an agent makes authorized spending while doing a job for the principal, the principal has the duty to reimburse the agent for the money spent.

3 0
3 years ago
Read 2 more answers
What is the difference between earned income, passive income, and investment income?
Rudiy27

Explanation:

Earned income consists of income you earn while you are working a full-time job or running a business.

Passive income is income earned from rents, royalties, and stakes in limited partnerships.

Portfolio income is income from dividends, interest, and capital gains from stock sales.

4 0
3 years ago
Panda Inc. had total sales of $24,000 from bamboo bowls in 2017. The company sold 6,000 units of bamboo bowls and the total vari
xxMikexx [17]

Answer:

Contribution percent = 75%

Explanation:

Given:

Total sales = $24,000

Total Variable cost = $6,000

Total units = 6,000

Contribution percent = ?

Computation of Contribution :

Contribution = Total sales - Total Variable cost

Contribution = $24,000 - $6,000

Contribution = $18,000

Computation of Contribution percent :

Contribution percent = Contribution / Total sales

Contribution percent = 18,000 / 24,000

Contribution percent = 0.75

Contribution percent = 75%

8 0
4 years ago
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