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Sidana [21]
3 years ago
15

The First Chance Casino has gambling facilities, a bar, a restaurant, and a hotel. All employees are allowed to obtain food from

the restaurant at no charge during working hours. In the case of the employees who operate the gambling facilities, bar, and restaurant, 60% of all of Casino's employees, the meals are provided for the convenience of the Casino. However, the hotel workers, demanded equal treatment and therefore were also allowed to eat in the restaurant at no charge while they are at work. Which of the following is correct?A) All the employees are required to include the value of the meals in their gross income.B) Only the restaurant employees may exclude the value of their meals from gross income.C) Only the employees who work in gambling, the bar, and the restaurant may exclude the meals from gross income.D) All of the employees may exclude the value of the meals from gross income.E) None of the above.
Business
1 answer:
jenyasd209 [6]3 years ago
4 0

Answer:

D) All of the employees may exclude the value of the meals from gross income.

Explanation:

Meals provided at the workplace (in this case the casino) by the employer are nontaxable fringe benefits. This means that the employees are not required to include them as part of their gross income.

Also, if the providing the meals benefits the employer, they can deduct 50% of the cost.

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igomit [66]

Answer: See explanation

Explanation:

Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.

Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.

After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.

3 0
3 years ago
Which of the following statements about federal student loans is true?
svetlana [45]

I believe the answer is: A. the interest rate on your loan will be fixed over time

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There are two things that separate a student loan with any other type of loan. The first one is that there is no time limit of when the student loan must be paid. The second one is that unlike any loan, student loan would not dissapear even if you declare a personal bankruptcy.

6 0
3 years ago
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A study was done to determine the average commute time per week to and from class for an spc student attending a lecture class.
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All SPC students who attend lecture classes

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3 years ago
According to the efficient markets hypothesis, changes in stock prices are impossible to predict from public information. excess
saveliy_v [14]

Answer:

Changes in stock prices are impossible to predict from public information.

Explanation:

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Three forms of EMH exist weak, strong, and semi-strong.

The changes in asset price based on all bailable information is unpredictable, so it is impossible to outperform the market by expert selection of stock or market timing.

The only way to get higher returns is to get riskier investments as one cannot consistently predict performance of assets.

4 0
4 years ago
The part of an industry's value chain that is most important to a company and the point where its greatest expertise and capabil
BARSIC [14]

Answer:

center of gravity.

Explanation:

The part of an industry's value chain that is most important to a company and the point where its greatest expertise and capabilities lie is called the company's center of gravity.

Generally, the center of gravity of a company is usually the point at which it started business. The center of gravity of a company defines its strengths, success, achievement and dominant operations.

For any successful business, there is always a center of gravity. This is the point or stage where all of the strategic decisions, greatest expertise, risks management and capabilities lie.

<em>Hence, should there be an error, disagreement or disarray at the center of gravity, then the company is headed for losses and bankruptcy. </em>

8 0
4 years ago
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