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
maw [93]
3 years ago
14

​the irs says you must do what a "reasonable business person" would do to make a profit when running your own business.

Business
1 answer:
Lady bird [3.3K]3 years ago
4 0
This implicates that you have to pass several tests from IRS, usually revolves around your primary employment and the amount of income you get from your business. If you somehow do not meet the standard in IRS test,  IRS will classify your business as a hobby business and you wouldn't be allowed to use any expenditures as tax deductions
You might be interested in
Question 13 of 20
____ [38]

\:\huge\mathbb\red{Answer}

Option A is the correct answer

4 0
2 years ago
Becky hunter is an accountant employed by faf enterprises. recently she has spent much of her time working on defining measures
boyakko [2]
<span>Becky is a private accountant whose work is mainly with managerial accounting. Managerial accounting is a process o identifying, measuring, analyzing, interpreting, and communicating information in order to achieve the goals of an organization. Another name for managerial accounting is cost accounting.</span>
7 0
3 years ago
Suppose that, at a given level of disposable income, consumers decide to save more. Explain what effect this decision will have
-Dominant- [34]

Answer: decrease ; less saving

Explanation:As people attempt to save more, the result is both a decline in output and unchanged saving. Although people want to save more at a given level of income, their income decreases by an amount such that their saving is unchanged. As people save more at their initial level of income, they decrease their consumption. But this decreased consumption decreases demand, which decreases production. A change in autonomous spending has a different effect on output than the actual change in autonomous spending.

7 0
3 years ago
Read 2 more answers
What is the primary reason that so many new businesses fail??
morpeh [17]
The reason why business fail is because they find it extremely hard to compete with the well known business. for example a man that opens up a buisiness that sells soap and decides to name the soap and company labbi but everyone goes to dove because it's more well known and been out for years and delivers high quality 
3 0
3 years ago
On September 1, 2021, Southwest Airlines borrows $40.1 million, of which $8.2 million is due next year. Show how Southwest Airli
Zepler [3.9K]

Answer and Explanation:

The Preparation of balance sheet is shown below:-

                                       Balance Sheet

Current liability

Long term debt of Current portion $40,100,000

Long term liability

Notes payable                                $31,900,000

($40,100,000 - $8,200,000)

Total liabilities                                      $72,000,000

So, to reach the total liabilities we simply add the long term debt of current portion with notes payable.

5 0
2 years ago
Other questions:
  • A $10,000 8 percent coupon bond that sells for $10,000 has a yield to maturity of
    15·1 answer
  • The Constitution sets forth specific powers that can be exercised by the national government and provides that t national govern
    14·1 answer
  • What is revenue on an income statement? Select one:
    13·1 answer
  • The headline of a General Motors advertisement in a recent Reader's Digest magazine read, "I believe these kids will make great
    14·1 answer
  • To increase the money​ supply, the FOMC directs the trading​ desk, located at the Federal Reserve Bank of New​ York, to A. sell
    12·1 answer
  • The Republic of Gizmovia wants to maintain the exchange rate of its currency, the gizmo, at $0.50, but the current exchange rate
    11·1 answer
  • A​ lump-sum purchase or basket purchase involves paying a single price for several assets as a group.
    8·1 answer
  • A property buyer should object to any defects in the title to the property A) within one year of the transfer of title. B) befor
    11·1 answer
  • Which economist theorized that depression will occur when the economic cycle is broken?
    7·1 answer
  • Before a three-for-one stock split, the shares outstanding were 5,000 shares at $12 par.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!