Key assets represent knowledge that your business has that is critical to the operation of your business. ... Basically, anything about your business that is essential to its core operation would be considered a knowledge asset.
Answer and Explanation:
As we know that the credit amount should be allowed a qualified deduction of 100% till $2,000 and the next 25% is $2,000
In the given situation, the credit amount would be
= $1,600 × 100%
= $1,600
As the AGI is $175,000 i.e. exceeded the prescribed amount i.e. $160,000 so it would be phased out till $180,000
So, after considering the phase out application limits, the credit is
= $1,600 × ($180,000 - $175,000) ÷ ($180,000 - $160,000)
= $400
So, the total credit is $400 out of which $160 is refundable and the remaining balance i.e. $240 would be non-refundable
There are three main parts of income statements and they are:
- Revenue
- Expenses
- Profit
<h3>What is an Income Statement?</h3>
This refers to the profit and loss account of a company that shows the expenses and revenue for a particular company.
Hence, we can see that a sample income statement would be:
BOSKA COMPANY
Income statement for August 29, 2021
NET SALES------------------ $2,000,000
GROSS SALES-------------$500,000
GROSS PROFIT-------------$1,5000,000
Read more about income statements here:
brainly.com/question/24498019
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Considering the available options, Bonds are a "<u>store of value, but not a medium of exchange."</u>
<h3>What are Bonds?</h3>
Bonds is a term or entity in the financial world to describe a form of fixed-income security that has its terms stipulated in an indenture or legal contract.
<h3>Medium of Exchange</h3>
On the other medium of exchange is an entity used in a transaction to exchange goods or services.
In modern times, the medium of exchange is currency or money.
Hence, in this case, it is concluded that the correct answer is option B. "<u>store of value, but not a medium of exchange."</u>
Learn more about Bonds here: brainly.com/question/25425872
