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
frez [133]
2 years ago
11

In 2000, Michael purchased land for $100,000. Over the years, economic conditions deteriorated, and the value of the land declin

ed to $60,000. Michael sells the property in this year, when it is subject to a $30,000 nonrecourse mortgage. The buyer pays Michael $34,000 cash and takes the property subject to the mortgage. Michael incurs $5,000 in real estate commissions. Michael's gain or loss on the sale is:_______
a. $4,000 gain.
b. $1,000 loss.
c. $36,000 loss.
d. $41,000 loss.
Business
1 answer:
PIT_PIT [208]2 years ago
3 0

Answer:

D) $41,000 loss.

Explanation:

You might be interested in
Why are banks willing to lend funds to people?
padilas [110]
<span>Because interest income is usually the largest component of a bank's income, specifically for a commercial bank. (Investment banks earn more from fees and trading.)</span>
4 0
3 years ago
Read 2 more answers
E6-20 (Algo) Inferring Bad Debt Expense and Determining the Impact of Uncollectible Accounts on Income (Including Tax Effects) a
SVETLANKA909090 [29]
Theres is to much writing sorry hope this helps
8 0
2 years ago
Mauve Company permits employees to occasionally use the copying machine for personal purposes. The copying machine is located in
wlad13 [49]

This is a <u>false</u> statement.    

<u>Explanation</u>:

The employees of Mauve Company are permitted to use the copying machine in the office for personal purpose occasionally. The copying machine is placed in the room where the higher officials work. So the use of the machine was limited. It is difficult for the low wage employees and employee working in warehouse to use the copying machine as the machine is placed in high official’s room. So the low wage employees never use the copying machine. The use of the copying machine may not be excluded from gross income as the benefit is unfair.

3 0
2 years ago
in an essay of at least 2 well-developed paragraphs, explain how the theories of Adam Smith and john maynard keynes are seen in
Alona [7]

Answer:

In our present American free enterprise economic system:

Some people want to see pure capitalism being put in place.  This means that there is no government interference with the workings of the economy.  Some others, including the government, have understood that there is no perfect capitalism.  As such, they call for government intervention to ensure that economic crises are not allowed free reign.

Adam Smith, as a philosopher, vehemently advocated for a free market economy without any form of government interference.  He did not even support the imposition of taxes by the government.  John Maynard Keynes also supported a free market economy, but he advocated for some government intervention from time to time.  John Keynes stated that government must intervene during economic crises through subsidies.

Explanation:

Adam Smith elevated the economic theory of laissez-faire. He noted that the free markets needed only the invisible hand to regulate themselves by means of competition, supply and demand, and self-interest.  John Keynes advocated for increased government expenditures and lowering of taxes as two important means to stimulate market demand and pull the global economy out of depression.

8 0
3 years ago
From both a legal and ethical standpoint, you have an obligation to pay for credit purchases.
Luda [366]

The correct answer is option (a) True

The statement is True From both a legal and ethical standpoint, you have an obligation to pay for credit purchases.

  • Ethics can be characterized as a set of ethical standards or rules of conduct that give direction for our behavior when it influences others.
  • Broadly recognized essential moral standards incorporate genuineness, reasonableness, constancy, and care and regard for others. Moral conduct takes after those standards and equalizations self-interest with both the coordinate and the backhanded results of that behavior for other people.
  • Not as it were does unscrupulous behavior by people have genuine individual consequences—ranging from work misfortune and reputational harm to fines and indeed jail—but deceptive conduct from advertise members, speculation experts, and those who benefit financial specialists can harm financial specialist believe and subsequently impede the supportability of the worldwide capital markets as a entirety.

To know more about legal ethical visit:

https://brainly.in/question/29577003

#SPJ4

7 0
1 year ago
Other questions:
  • An item not normally included in ansi recommendations but recommended by other groups is
    14·2 answers
  • To construct the consumer price index, the bureau of labor statistics must:
    6·1 answer
  • A performance rating error in which the rater tends to give employees either extremely high or extremely low ratings is referred
    8·1 answer
  • firm x projects an roe of 14% and it will maintain a pplowback ratio of .45 its earnings this year will be 3.60 per share invest
    6·1 answer
  • According to mercantilism the accumulation of national wealth depended on the
    8·2 answers
  • Tim’s credit card has an APR of 24 percent. What is the periodic rate for this credit card?
    10·1 answer
  • Luxury Swiss chalet hotel general manager reported to her owner that the hotels occupancy index for calendar year 2019 was 1.25.
    9·1 answer
  • QUESTION 9 of 10: The skill set to predict the various aspects of the business several months or even years into the future is c
    14·1 answer
  • ABC Company is considering investing in new production equipment at a cost of $60,000 with a 10-year useful life and no salvage
    5·1 answer
  • Identify What prevented the economy from slipping
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!