Answer: D. Todd should include the $500 in 2015 gross income in accordance with the tax benefit rule.
Explanation:
It should be noted that due to the fact that Todd is a cash basis taxpayer, he'll be able to deduct the one-year prepayment for insurance in the year that it was paid, 2014.
In this case, he deducted $1,200, then his net cost will be ($1200 - $500) = $700. In this case, Todd should then include the $500 refund in gross income for 2015 under the tax benefit rule.
To calculate the standard quantity per unit of direct materials all the give options are used.
Direct materials requirements per unit of finished product, allowance for rejects and allowance for waste and spoilage Direct materials are the resources and materials used in the production of a product that can be immediately linked to that product.
Typically, a product's bill of materials contains a list of the materials that have been recognised as direct materials. The unit quantities and average costs of each material used in a product are listed in the bill of materials, which may also include an allocation for overhead.
Learn more about Direct materials here:
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either Fire Legal Liability Coverage or state farm either will do but im leaning more towards the fire laibilty coverage
hope this helps:)sorry if it doesnt
Free enterprise pretty much says that people can sell whatever they want at a price they choose to whoever wants to but it. Becacuse of this people wanted to go out and make their own businesses where they sold the goods or services they chose to. So yes, I believe free market inspired people to become euntrapenures. For the next question, yes as well. With the amount of people selling different things the economy became more diverse.
<h3>Hello there!</h3>
Your question asks what an opportunity cost of an action is.
<h3>Answer: D). is a subjective valuation that can be determined only by the individual who chooses the action.</h3>
The reason why answer choice "D). is a subjective valuation that can be determined only by the individual who chooses the action" is correct because an opportunity cost of an action is not the same for everyone.
An opportunity cost of an action is subjective, meaning that the action can be determined by someone's opinion, feelings, etc. Everyone thinks differently, therefore making everyone's opportunity cost of action different.
A opportunity cost of an action also is determined by the individual themselves, not anyone else. That's why the action is subjective, due to the fact that the decision on the action is determined by the individual personal opinions and feelings.
<h3>I hope this helps!</h3><h3>Best regards,</h3><h3>MasterInvestor</h3>
