1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vovikov84 [41]
2 years ago
5

Which of the following statements regarding personal and/or rental use of a home is false? Multiple Choice A day for which a tax

payer rents a home to an unrelated party for less than the property's fair market value is considered to be a personal-use day. A day for which a taxpayer rents a home to a relative for full fair market value is considered to be a rental use day (home is not the relative’s principal residence). A day for which an unrelated nonowner stays in the home under a vacation exchange arrangement is considered to be a personal-use day. A day for which the home is available for rent but is not occupied does not count as a personal-use or a rental use day.
Business
1 answer:
evablogger [386]2 years ago
5 0

Answer:

A day for which a taxpayer rents a home to a relative for full fair market value is considered to be a

rental use day.

Explanation:

Personal use property can be regarded as type of property/ asset that is not been used by individual for purpose of business or investment purpose. personal use portion of interest on mortgage as well as property taxes is been passed on to the owners. In the case, whereby the the property qualifies as a residence, whereby the property is been rented like less than 15 days within the year, the rental income cannot be taxed

It should be noted that some instances of personal and/or rental use of a home are;

✓ A day for which a taxpayer rents a home to an unrelated party for less than the property's fair market value is considered to be a personal-use day.

✓ A day for which an unrelated nonowner stays in the home under a vacation exchange arrangement is considered to be a personal-use day.

✓A day for which the home is available for rent but is not occupied does not count as a personal-use or a rental use day.

You might be interested in
Ou are chatting with one customer when another begins asking you questions. the second customer is in a hurry and wants immediat
Tpy6a [65]
You should prioritize your first customer since they are entitled with your full attention being the one who availed your service first. You can ask the second customer if she can wait. But if the second customer would be so persistent, you can ask permission from the first customer if she is not in a hurry and that you would entertain the second customer first.
3 0
3 years ago
Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a pro
vlabodo [156]

Answer:

Product cost refers to the costs incurred to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead. Product cost can also be considered the cost of the labor required to deliver a service to a customer.

Examples of product costs are direct materials, direct labor, and allocated factory overhead which are directly attributable to the product.

period cost is any cost that cannot be capitalized into prepaid expenses, inventory, or fixed assets. A period cost is more closely associated with the passage of time than with a transnational event. ... Instead, it is typically included within the selling and administrative expenses section of the income statement.

Examples of period costs are general and administrative expenses, such as rent, office depreciation, office supplies, and utilities. Period costs are sometimes broken out into additional subcategories for selling activities and administrative activities

4 0
2 years ago
Lester Moy bought two new Michelin Tires for his car at $99.55 per tire. He was also charged $4.95 per tire for mounting, $2.65
Arte-miy333 [17]
You have to do some adding and multiplying. first 99.55 times 4 tires

3 0
3 years ago
Explain the result of the violation of patent protection illustrated in the scenario below.
lesya692 [45]
<h2>Luke cannot sell the product because patent is already been issued to the similar product.</h2>

Explanation:

According to the given scenario, Luke though he is an inventor and he has created a product which is similar to already patented, Luke is not allowed to sale based on the patent rule.

Since there is a patent right obtained by someone for similar product, then what Luke is trying to do is against the Patent law.

Luke cannot prove that he already had an idea. Any law always needs a proof than a statement.

Luke may be punishable under the patent law if he tries to sell his invention.

6 0
3 years ago
Sixty-second Avenue Inc. expects to earn $5,700,000 this year. The company currently has 790,000 shares outstanding, and the sha
11111nata11111 [884]

Answer:

The company's expected market price per share After the repurchase would $23.68

Explanation:

In order to calculate the company's expected market price per share After the repurchase we would have to calculate first the Price-to-earnings ratio ( P/E ratio ) as follows:

Price-to-earnings ratio ( P/E ratio )= Market price per share / Earnings per share

Earnings per share = Earnings/ number of shares outstanding =$ 5,700,000 / $790,000 = $ 7.21

Therefore, Price -to-earnings ratio = $ 21 / $ 7.21 = 2.91

If 90,000 shares are repurchased, Therefore Earnings per share =$ 5,700,000 / $700,000 = $ 8.14

Therefore, the company's expected market price per share After the repurchase=$ 8.14 x 2.91 = $23.68

7 0
3 years ago
Other questions:
  • A gum manufacturer wants to determine whether blue packaging or red packaging is preferred. The company performs a sales test by
    9·1 answer
  • If an executive or department head practices a laissez-faire approach to management, she is _____.
    11·2 answers
  • Employees often work with managers to develop a(n) __________ that outlines the fundamental purposes of their organization.a. or
    15·1 answer
  • Which of the following best defines the General Electric fastworks approach
    15·1 answer
  • Which of the following exemplifies a benefit of good​ communication?
    5·1 answer
  • Why Estonia is so highly technologically advanced country?​
    9·1 answer
  • An aggregate production function shows​ ________. A. the relationship between a​ country's output and its price level B. various
    14·1 answer
  • If you have a long position in a foreign currency, you can hedge with:_____.
    13·1 answer
  • An organization has considered its sales channels, its customer service requirements, and its operating model. Also it has analy
    11·1 answer
  • The most likely cause of a shift of a production possibilities frontier of an economy ab to cd is:_________
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!