Answer:
The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
Explanation:
For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.
Deduction available = excess expenses incurred - 7.5% of AGI
= ($16,000 + 4,000 + 2,500
+5,000) - 7.5%*130000
= 27500 - 9.750
= $17,750
Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
Answer:
sales orientation
Explanation:
Sales Orientation -
It is the business method to make profit just by selling the products to the customer rather than considering the needs of the customer , is known as sales orientation .
This method is adapted by to increase the profit margin.
Hence , from the question , the company is using , sales orientation .
Answer: A person who owns and runs a business, which is normally a small business (eg. Shop Owner).
The sole trader has unlimited liability, meaning that his assets will be used in case of default to pay.
Answer:
<u>c. The board has a majority of insiders from company management on it who bring first-hand knowledge of how the company operates. </u>
<em>Explanation</em>:
When the board members consist to a large extent members who are insiders of the company, <u>their ability to govern the company is improved.</u>
This is evident from the fact that this members bring first-hand knowledge of how the company operates to the board. However, if majority of the board are outsiders they may not fully be aware of company operations.
