Answer:
$100,000
Explanation:
According to the internal revenue service ''<u>In most situations, the basis of an asset is its cost to you.</u> <u>The cost is the amount you pay for it in cash</u>, debt obligations, and other property or services. Cost includes sales tax and other <u>expenses connected with the purchase</u>.''
Therefore Sebastian's basis in these two assets is unconnected with the fair market value of the assets but with the cost.
Purchased Equipment is always recorded at its acquisition cost or its net book value, that is after deducting the accumulated depreciation
. In the scenario we have no depreciation figures, hence the basis is the cost of $100,000
Low amounts of business and not enough pay to support one self.
Answer:
<em>sales budget</em>
Explanation:
A budget is an an estimate of income and expenditure for a set period of time. it is called operating budget when we are referring to a company. Because a company needs to know the estimate of sales for each quarter, month, or time period before they can determine how many units to be produced.
It is very important for the sales estimate to be correct so that the company knows how many units to produce. If the estimate is underestimated the inventory would be insufficient for customers, they may go somewhere else to satisfy their needs.
If there is an overestimation it will make the company spend more cash than necessary, leading spoilage or losses.
Answer:
Civic 50.
Explanation:
Bloomberg LP, in partnership with the National Conference on Citizenship and Points of Light, has created a scorecard of America's top community-minded companies which they call the civic 50. It was launched in the United States of America in 2012 and is a program designed and established to recognize and honour the fifty (50) most philanthropic, community-minded or socially responsible companies in the United States of America each year, determined by True Impact through an annual survey. These fifty (50) companies are selected based on this criteria; investment, integration, institutionalization and impact.
Answer:
d. Management.
Explanation:
Option a and b are incorrect because external parties of a business (the external auditors, management, suppliers) can not decide on the company's internal affairs.
Option c is wrong because the auditor's task is to inspect the item, not making a decision.
Management has the complete authority of making any internal decision of an organization.
Therefore, option d is the answer.