The answer is B.
A chart is not the same as a Venn Diagram.
Answer:
a. Realized gain = $45,330
Recognized gain = $0
b. $302,200
Explanation:
a. The realized gain is the increase in Camilo's economic position, that is, the difference between the fair market value of both properties. The recognized gain is the taxable gain, which is zero in this situation, since the new property is a compensation.
b. Since there is no recognized gain, the new property must have the same basis as the previous condemned property, which is $302,200.
Answer:
The correct answer is B. False.
Explanation:
An unqualified or normal opinion is issued in the event that the auditor, after obtaining sufficient and competent audit evidence, is fully satisfied with the reasonableness of the financial statements and their preparation in accordance with generally accepted accounting principles and standards applied to a base consistent with previous years. This satisfaction of the auditors is presented in the report in a clear and affirmative manner.
In issuing an unqualified opinion, the auditor tacitly expresses that if there have been changes in accounting principles or in the method of application, the relative effects of these have been determined and correctly presented in the financial statements.
Answer:
b) be more inelastic than supply curves that apply to longer periods of time.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply. In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
In the short run or in shorter time periods supply curves tend to be more inelastic than supply curves that apply to longer periods of time.
This ultimately implies that, a rightward shift in the aggregate supply (AS) curve causes output to increase and result in a price fall (lower price), in the short run.
However, in the long-run or in longer time periods, supply curves tend to be fairly elastic than supply curves that apply to shorter periods of time.
Answer:
c. increase by $2,000
Explanation:
The computation of company net operating income is shown below:-
New amount for Store A variable expenses = Sales percentage × Store A sales
= 0.62 × $100,000
= $62,000
Change in net operating income = (Variable expenses of store A - New amount for Store A variable expenses) - Fixed expenses
= ($72,000 - $62,000) - $8,000
= $10,000 - $8,000
= $2,000 increase
