Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.
<h3>
What is tax?</h3>
A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.
For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.
Learn more about tax on:
brainly.com/question/9437038
<em>Question Continuation</em>
<em>The probability that a respondent read a book in the last month and is at least 30 years old is the closest to
</em>
<em>
A. 0.33
</em>
<em>
B. 0.88
</em>
<em>
C. 0.46
</em>
<em>
D. 0.12
</em>
<em>See Attachment for complete question
</em>
Answer:
A. 0.33
Explanation:
To solve this question, we need the intersecting cell of Yes and 30+
The probability is then calculated as follows:
Where Total = 200
From the list of given options; (A) is the closest to 0.325
Hence:
<em>Option A answers the question</em>
Answer:
Your answer is D. All of the above
Explanation:
Answer:
Learning organization
Explanation:
A learning organisation is defined as one that is focused on promotion creation, acquiring, and transfer of knowledge for the clients it serves and its members.
It also constantly transforms itself by improving on its processes.
McKittridge Consulting is a learning organisation because it pursues activities such as engaging in disciplined thinking, searching constantly for new knowledge, benchmarking, and sharing ideas throughout the organization via information systems.
Answer & Explanation:
The fair value of our asset is $20000 and what we receive is a truck with $15000 market value and $5000 cash. So the transaction possesses commercial substance as the fair value and value received are same.
So assume if the transaction lacks the commercial substance (according to question) then the truck received must be recorded at fair value and must be offset against the truck which is exchanged for. The entry would be:
Dr Truck received @ Fair Value $15000
Cr Truck Sold $12000
Cr Profit on Disposal $8000
The above entry makes it clear that the entry to recognize the truck would be $15000. So the option D is correct.
