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trapecia [35]
3 years ago
12

Tim loaned a friend $4,000 to buy a used car. In the current year, Tim’s friend declares bankruptcy and the debt is considered t

otally worthless (or a bad debt(. What amount may Tim deduct on his individual income tax return for the current year as a result of the worthless debt, assuming he has no other capital gains or losses for the year? a. $4,000 ordinary loss (OL) b. $4,000 short-term capital loss (STCL) c. $2,000 short-term capital loss (STCL) d. $3,000 ordinary loss (OL) e. $3,000 short-term capital loss (STCL)
Business
1 answer:
julsineya [31]3 years ago
5 0

Answer:

e. $3,000 short-term capital loss (STCL)

Explanation:

From the given information;

Tim may deduct only $3,000 short-term capital loss (STCL) because the loan is not business-related. SO, he can claim a maximum of $3000 in the current year and the remaining can be forwarded to ordinary income on the individual return in any one tax year.

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You have a franchised planet fitness gym. you began the business by paying your initial franchise fees and now you pay royalties
sdas [7]

You have a franchised planet fitness gym. you began the business by paying your initial franchise fees and now you pay royalties on a regular basis. this typical fee structure for a franchise is an Example Of an advantage For An Franchisor.

In the aforementioned scenario, we first pay the initial franchise fees and then we are required to pay royalties on a regular basis. As a result, it is obvious that the franchisor benefits financially and that overall growth also benefits because the franchisor does not assume any risk in the Planet Fitness Gym; instead, they merely provide their franchises and receive regular basis income.

Additionally, they lower market and gym startup costs, among other things. They also gain from the fact that opening a new gym raises the value of their brand in the marketplace, which helps the franchisor long-term and accelerates their overall growth.

A franchise is a kind of license that gives a franchisee access to a franchisor's confidential company information, operational procedures, and trade names, enabling the franchisee to conduct business under the franchisor's brand.

Learn more about franchise here

brainly.com/question/14034124

#SPJ4

3 0
2 years ago
On January 2, Burt asked Logan to loan him money "against my diamond ring." Logan agreed to do so. To guard against intervening
ELEN [110]

Answer:

The answer is: Logan has priority.

Explanation:

Priority is always given to the party that files it first. In this case, Logan and Burt signed a security agreement on January 2 and a financing statement on January 3 that was filed by Logan.

On January 4, Burt sold his ring to Tiilo, but he did it after Logan filed the statement.  

4 0
3 years ago
Rodgers Inc. is imports paper from Shanghai China. In a typical transaction Rodgers receives a delivery of paper from the Chines
kari74 [83]

Answer:

Rodgers can hedge its foreign risk by using a Contract to buy Yuan in the futures market today at an agreed upon price in 90 days.

Explanation:

Solution

Since Rodgers receives a delivery of paper from the Chinese Company and pays the company in Yuan, so he has to hedge his exchange rate risk by buying or purchasing Yuan future contract for 90 days.

So, Rodgers Incorporation should make a contract to buy Yuan in the future market today at an agreed price in 90 days.

5 0
4 years ago
The form of ownership that gives one person sole control all business decisions is the
KiRa [710]

The answer to that is Proprietorship

7 0
3 years ago
HH is a 68 yo M who has been admitted to the medical ward with community-acquired pneumonia for the past 3 days. His PMH is sign
Pachacha [2.7K]

Answer: weakened host immune system and other factors like his anti-hypertensive medications predisposed Mr HH to community acquired pneumonia.

Explanation:

Having a past medical history of

Chronic Obstructive pulmonary disease (COPD), Hypertension, Hyperlipidemia and diabetes, Me HH has a higher risk of developing community acquired pneumonia through the following ways...

Having a past medical history of Chronic obstructive pulmonary disease ascertains that he might have the bacteria Streptococcus pneumoniae, Haemophilus influenzae, Chlamydia pneumoniae, Mycoplasma pneumoniae, and Legionella pneumophila which are the main causative organism of pneumonia and therefore will vkme down with community acquired pneumonia once the immune system is compromised.

Hypertension predisposes Mr HH to community acquired pneumonia through the use of certain anti-hypertensive medications like calcium channel blockers which tends to decrease phagocyte function and host defence.

Digoxin a cardiac glycoside decreases the clearance of pneumococci from lower respiratory tree.

Delayed emptying of the stomach with comes with diabetes can lead to aspiration this further resulting In pneumonia (community acquired pneumonia)

Diabetes and Hyperlipidemia impairs neutrophils and monocytes (macrophages) function thereby wearing the host immune response and further encouraging micro organisms that cause pneumonia to thrive.

8 0
3 years ago
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