Answer:
c.Issuance of common stock.
Explanation:
Investing activities lead to an increase in business cash flows. Investing involves spending money with the expectation of making higher returns.
Some investing activities include
1. Purchase or acquisition of assets to be used in the production process.
2. Sale of business assets
3. Acquisition or sale of other business
Issuing of common stocks is not considered an investment option. Common shares are issued when companies need to raise additional capital. Issuance of common shares is a financing activity.
James must include $720 in his yearly gross income related to the fringe benefit.
Where the value of the athletic facilities is to be excluded from an employee's gross income, the facilities must be situated on the employer's business location. Moreover, the athletic facilities must be used exclusively by the employees and their dependents.
Due to the above, James's membership is at a public YMCA, hence taxable.
Also, James start date with the corporation was not given, he would however receive 12 months of the benefit.
12 × $60 = $720
Therefore, James must include the full cost of $720 paid by his employer in his yearly gross income related to the fringe benefit.
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Answer:
(a)service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
Explanation:
Major difference between service life and physical life of an asset is about the tenure it will be used as the service life is the total duration the asset will be operative and useful, whereas the physical life is the entire duration along with the time it was not put to use of an asset.
The more useful component is the service life, as during the entire tenure of physical life the asset cannot be used, and viable period is service life.
Therefore, correct statement is
(a)service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
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