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Sandle Corporation, an accrual-basis, calendar-year taxpayer, sold $15,000 of its products on account to Jim in November, year 1. In year 2, Jim declares bankruptcy and Sandle writes off the account as a bad debt. In year 3, Jim unexpectedly inherits a large sum of money and uses part of it to repay his creditors, including a $12,000 payment to Sandle Corporation.
a. What does Sandle Corporation report on its tax returns for years 1, 2, and 3?
b. How would your answers change if Sandle is a cash-basis taxpayer?
Elucidate the roles of government bodies which determine national fiscal policies.
Mmachines of Newspaper vending are designed so that once you have paid for one paper; you could take more than one paper at a time.
The scenario is that I am going to open restaurants in China. One in Shanghai and one Beijing. These restaurants will serve healthy food such as salads, sandwiches, pizza, soup,
Illustrate the difference among the law of diminishing marginal returns and the law of diminishing marginal rate of technical substitution.
A government is recently operating with an annual budget deficit of $40 billion. The government has determined that;
Much of the demand for U.S. agricultural output has come from other countries U.S. farmers are concerned about this drop in export demand.
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
Assume that the Fed Reserve adopts an inflation targe of 3% for its monetary policy.
Suppose you are interested in estimating the effect of hours of work (hours) on total LSAT score (lsat). The population is all law school bound college seniors for a particular year. Here hours of work refers to any non-school related work that st..
Variables also spell out the assumptions related to the use
Elucidate which economic concepts, sure as comparative advantage, apply to your firm. Explain how these economic concepts can be used to address the firms's problem and opportunities.
Illustrate to what extent is Walmart's financial health affected by fiscal also monetary policy.
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