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sveticcg [70]
3 years ago
14

Bruno and Diana are trying to calculate their gross income. Which of the following items should they exclude from their gross in

come? 1. $15,000 gift from Diana’s mother for the down payment of their new house. 2. $20,000 borrowed by Bruno and Diana from First City Bank. 3. $12,000 increase in value of Delta stock, which they own in their brokerage account. 4. $53,000 worth of home repair work that was exchanged for tax work by Bruno.
Business
1 answer:
arsen [322]3 years ago
4 0

Answer: $15,000 gift from Diana’s mother for the down payment of their new house

Explanation: under the US code 102- Gifts and other inheritances. Gross income does not include the value of property acquired by gift. Money given as gifts to purchase a property are not taxable.

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Answer: B. No. Imposing a price control below the equilibrium price in a market causes the quantity of the good available to consumers to fall because sellers will supply a smaller​ quantity, thereby causing some consumers to go without food that they would have been able to buy in the absence of the price control.

Explanation:

If price controls are introduced below the equilibrium price in the market, farmers or sellers will supply less to the market because they will not be incentivized to produce more seeing as they are not making what they should be making.

This, coupled with increased demand on account of food being cheaper, will lead to shortages which would mean that those that could have been able to afford the food at the equilibrium price would not be able to access food leading to even worse food shortages.

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3 years ago
Total surplus with a tax is equal to a. consumer surplus minus producer surplus. b. consumer surplus plus producer surplus plus
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Answer:

Option (b) is correct.

Explanation:

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Why is ADS low this week
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Identify the statement that is incorrect. Multiple Choice Higher financial leverage involves higher risk. Risk is higher if a co
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Answer:

Risk is higher if a company has more assets.

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All of the following statements are true and correct;

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4. Lower financial leverage involves lower risk.

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