Answer:
steelersssss all the way babyyyy
Explanation:
Answer and Explanation:
The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more
Answer:
a. real GDP adjusts the value of goods for changes in the price level and nominal GDP does not.
Explanation:
The nominal GDP is calculated by using current prices without adjusting the inflation factor int the prices of goods that are accounted for in the total GDP value. On the other hand the real GDP is calculated by adjusting inflation int he pricesof the goods which included in total GDP value. So the correct option is a. real GDP adjusts the value of goods for changes in the price level and nominal GDP does not.
Answer:
Huprey Co.
Identifying the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements:
1. Huprey (defendant) estimates that a pending lawsuit could result in damages of $1,550,000; it is unlikely that the plaintiff will win the case.a. A liability that is recorded.
b. An item described in notes to its financial statements.
2. Huprey faces a loss on a pending lawsuit that it is unlikely to lose; the amount is reasonably estimable.
a. An item described in notes to its financial statements. b. A liability that is recorded.
3. Huprey faces a probable loss on a pending lawsuit; the amount is reasonably estimable.a. An item described in notes to its financial statements.
b. A liability that is recorded.
Explanation:
Huprey Co. will recognize and record contingent liabilities in its accounts when it can be reasonably established that the future event will occur and the amount of the liability can be reasonably estimated. The implication is that Huprey Co. must establish two things before a contingent liability is recognized and recorded. One is that the probability or the likelihood or the chance that the event will happen exists and can be estimated. With the probability estimate, it becomes possible for Huprey Co. to also estimate the amount that the happening of the event will cost it.
Answer:
a. Brad might be allowed to deduct up to $25,000
or Brad may be allowed to deduct the loss if he works more than 750 hours as a material participant in connection with the townhouse complex and more than half of personal service.
b. The reduction is equal to 50% of AGI in excess of $100,000. The deduction will be phased out completely if AGI reaches $25,000
Explanation:
Adjusted Gross Income is the final taxable income after all the allowable deductions are adjusted in the income. A tax payer can deduct up to $25,000 for the passive losses. This is standard deduction which Brad can deduct from the income.
