Answer:
$5,000
Explanation:
According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less
However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.
Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000
Answer: The third option is correct. Option C
Explanation:
This contains two different questions which are not properly written. The real question is in the image I attached.
The sum of total goods or services produced in a financial year domestically that is within a boundary of the country or geographical area is known as GDP.
If constructed earlier, housing units or housing services will not be included in the GDP and also market value is never taken into account.
Option C is correct as neither of them will taken into account while calculating GDP.
B. New controls in e-mail programs can ensure that your e-mail will remain private, both within your organization's server and at the receiver's end as well. This appears to be the best option, the sender can't control the reciever's server.
Answer:
False
Explanation:
The aim of a Community organization is to enhance a community's health, welfare, environmental condition and so on.
Answer:
(A) revenue of $14,000 and expense of $6,000 in Year 2.
Explanation:
If in Year 1, Costello Company performed work for a customer and billed the customer $14,000. and In Year 2, the customer pays Costello Company for the services it rendered in Year 1.
Again if In Year 1, the company incurred $6,000 of wage expense, but it did not pay the employees until Year 2.
If Costello Company uses the cash-basis of accounting, then it will report a revenue of $14,000 and expense of $6,000 in Year 2.
Cash basis Accounting as opposed to accrual basis accounting recognizes expenses and revenue as at when paid as opposed to when earned.
Although the revenues and expenses in the scenario relates to Year 1 and would have been recorded as income and expenses in year 1 under the normal accrual basis, since that is the year the income of $14,000 and expense of $6,000 were earned and expended respectively; that will not be case in Cash-basis because the emphasis is on cash payment and receipt. Hence the choice that the income and revenue should be accounted for in Year 2