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Nataly [62]
3 years ago
7

Michelle operates a food truck. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction

in each of the following situations and explain your solution.
A. Michelle was stopped for speeding. She paid a fine of $125 for speeding, including $80 for legal advice in connection with the ticket.
B. Michelle paid $795 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $140 for tickets to a game for her children.
C. Michelle provided a candidate with free advertising painted on her truck during the candidate’s campaign for city council. Michelle paid $680 to have the ad prepared and an additional $380 to have the ad removed from the truck after the candidate lost the election.
Business
1 answer:
Snezhnost [94]3 years ago
6 0

Answer:

A. $80

B. $795

C. $0

Explanation:

Only expenses that can be directly attributed to the business are deductible.

Personal expenses will not be deductible.

A. Here the only deductible amount is the legal fees of $80. The speeding will not be charged to the business because it was as a result of personal negligence. The legal fees affect the business because the speeding related to a business asset.

B. Only the amount paid to reserve a spot will be deductible because it relates to expenses for the business to make profit. The money she spent on her children is a personal expense.

C. There is no deductible here. These activities were of a personal nature and in no way related to the operations of the business of operating the food truck.

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Morgarella [4.7K]

Answer:

c. News has no effect on stock prices.

Explanation:

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Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.

The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis which states that, asset (share) prices reflect all information and it is very much impossible to consistently beat the market. Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.

According to the efficient market hypothesis, News has an effect on

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3 years ago
"during times of economic trouble, which are immigrants often accused of?" causing inflation and unemployment to increase planni
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As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all
laiz [17]

Answer:

The correct answer is:

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Explanation:

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Answer:

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7 0
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