Mr. Sherman incurred $7,000 of employment-related business expenses. Which of the following statements is true? Multiple Choice If his employer reimbursed him for these expenses, Mr. Sherman must include the reimbursement in gross income. If his employer reimbursed him for $3,000 of the expenses, Mr. Sherman is allowed a $4,000 above-the-line deduction. If his employer reimbursed him for $3,000 of the expenses, Mr. Sherman is allowed a $4,000 itemized deduction. If his employer reimbursed him for $3,000 of the expenses, Mr. Sherman has a $4,000 nondeductible expense.

Answers

Answer 1

For the given statement, the statement that is true is: “If his employer reimbursed him for these expenses, Mr. Sherman must include the reimbursement in gross income.” Hence, Option A is correct.

What is the meaning of the term “reimbursement”?

When the subject receives compensation for travel-related costs like mileage, lodging, and meals, the term reimbursement is used. The term "compensation" refers to "payment" for things like time, discomfort, and trouble.

Reimbursement is the act of a business paying an employee, client, or other person back for money they spent out of pocket or for money they were overpaid.

Therefore, Option A is correct.

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Related Questions

Because of the impact of cell phones and iPods, this particular medium has a
shrinking listener base. Consumers are also impressed with commercial-free satellite
radio. What medium is threatened by the elements mentioned in this question?

Answers

The medium that has the shrinking listener base would be the radio.

How has cell phones reduced the use of other media?

Customers and brands frequently interact with one another in real time using mobile devices. Both the marketer and the customer are concerned with convenience.

Purchasing music on your phone is practical. While awaiting the bus, it's handy to download and view shows.

A growing number of people are finding themselves free from planned lines as mobile devices become more widely available. They take fewer special excursions and are eliminating many activities from their lives that are "unnecessary."

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What communications allowances and restrictions apply in the below time periods?

Pre-Filing Period
The Waiting Period
Post-Effective Period

Answers

Communication allowances and limitations are in effect as all issuers are not permitted to make written offers throughout the waiting period, pre-filing period, and post-effective period.

What is pre-filing period?

The pre-filing period is the period before the issuer files their registration statement in the initial public offering (IPO) process. Also known as the silent era.

Section 5(c) forbids the issuer from making any "offer" to sell shares during the pre-filing period, and Section 2(a)(3) defines "offer" as any communication that may condition the marketplace for the sale of the securities.

Certain messages, however, are permitted. Rule 163A permits any communication that occurs more than 30 days before the registrant files their registration statement.

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A firm finds that as it adds workers, each worker is adding less and less output to the production process. What must be true about average cost?.

Answers

Since the marginal product for each extra worker is rising, total variable costs rise as production rises but at a decreasing pace.The overall variable cost increases at a rising rate as the marginal product declines.

What is the change in output from adding one more worker called?The phrase "economies of scale" describes a situation in which the long-term average cost falls as the firm's output rises.The chemical industry is a classic illustration of economies of scale in action. The facility with the lowest average total cost for a given output is the most economically efficient one.A company is functioning on its long-run average cost curve when it is producing at a certain output at the lowest cost. This is due to the company's continued efficient production.The firm is not producing at its maximum capacity if the marginal product falls as more input is added.The company should then stop making new units.

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To complete his business bookkeeping work each month, a business owner spends about 20 hours and in the process, has to give up £900 in income. If he hired a bookkeeper to do the work, the job would be completed in 15 hours and would cost him £600. Should the owner hire the bookkeeper or continue to do the work himself?

Answers

Here in this case, there is no question that the books should be delegated to the bookkeeper. Not only he saves the amount of $300, he also saves time which could be put to better use.

Given,

To complete the business bookkeeping work each month, a business owner spends - 20 hours

Income - £900

If a bookkeeper is hired, the job would be completed - 15 hours

Cost - £600

So here, the owner = £900 and 20 hours

Bookkeeper = £600 and 15 hours

Thus, here the opportunity cost is determined.

Hence, in this case, there is no question that the books should be delegated to the bookkeeper. As, not only the bookkeeper saves money of $300, but together he also saves time that could be put to better use.

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What tax preparation option do you think you are most likely to use? Why? What are the advantages and disadvantages of using this option?

Answers

The tax preparation option that I think I am most likely to use is the use of software because it is simple to use and effective at creating tax returns as long as you already have the data provided and prepared to be encoded. Its accessibility, however, makes it vulnerable to manipulation by others, which is a drawback to employing it. And this can make the client's confidentiality less secure.

What does "tax preparation" mean?

Federal, state, and local tax returns are all included in tax preparation. For clients ranging from individuals to businesses, tax advising services include analyzing financial and tax issues, coming up with solutions, and offering recommendations.

To get ready for income tax season, one must

Select a Tax Preparer.Make an Appointment.Put together Your Documents.Round Up Your Receipts.List all of one's Personal Information, etc.

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Pls help !!!!!!!!!!!!!!!!!

Answers

If the economy's inflation rate is 5% and workers' earnings rise by 5%, nominal income rises by 5% while real income remains the unchanged. Option E is correct.

What is the difference between real income and nominal income?

Real income is the amount of money a company or individual earns after accounting for inflation. When referring to an individual's inflation-adjusted earnings, it is also known as real wage.

Earnings that are not adjusted for subsequent changes in inflation rates are referred to as nominal income.

Therefore, option E is correct.

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WILL GIVE BRAINLIST
Which term correctly completes the following sentence?

"Get the ___________. There's a customer at table four who wants to speak to her about the service she received tonight."

CVB
ETA
GM
OTA

Answers

"Get the CVB. There's a customer at table four who wants to speak to her about the service she received tonight." Customer service is the assistance you provide to your consumers both before and after they purchase and utilize your products or services.

Allowing them to have a simple and joyful experience with your business. However, customer service is more than just resolving problems and closing tickets. Building solid relationships with your clients is the key to providing excellent customer service. Thanking the customer and fostering a positive, helpful, and friendly environment will ensure that they depart with a favourable impression. A satisfied consumer will return frequently and will most likely spend more money.

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TurboTax developed an innovative software product years ago that filled the gap between the individuals who wanted to do their taxes and the pnes who sought professional tax advice.TurboTax product hit a sweet spot with the market and it sales have followed a steady inceease through 2014. turba tax developed a product that was a

Answers

The type of product that TurboTax developed, based on the fact that it filled the gap for individuals and professionals to do taxes, was a product market - fit.

What is a product market - fit?

A product market - fit refers to when a company makes a product that matches the needs of the market. The product is such a good fit that even after years, people are still purchasing it which then leads to a steady increase in the sales of the company that made the product. They will therefore have steady profits as well.

This steady increase in sales that a company experiences - like the one experienced by TurboTax, comes from the fact that those who use a product that is a product market - fit, keep recommending it to others. As others buy, they too will recommend which then keeps the sales rising.

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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $375 and $60, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Equivalent Units Conversion Inventory in process, October 1 0 320 Started and completed during October 14,800 14,800 Transferred out of Rolling (completed) 14,800 15,120 Inventory in process, October 31 1,200 300 Total units to be assigned costs 16,000 15,420 The beginning work in process inventory on October 1 had a cost of $318,560. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Line Item Description Amount Completed and transferred-out production $fill in the blank 1 Inventory in process, October 31 $fill in the blank 2 Total costs assigned by the Rolling Department

Answers

The cost assigned by the rolling department is the Cost of Units Transferred Out and Ending Work in Process.

It is a term usually used to describe imperfect goods that go from raw material to finished product in a short period of time. Work in progress refers to the larger undertakings of capital goods. Work-in-progress is a term usually used to describe partially finished goods that are transformed from raw materials into finished goods in a short period of time.

Work in progress refers to the larger undertakings of capital goods. Work-in-progress and work-in-progress figures can be found on the company's balance sheet. The two differ in accounting because work in process is typically classified as a current asset (related to inventory of raw materials) and work in process is typically classified as a non-current asset. Manufacturing companies are more likely to use WIP, and construction companies are more likely to use WIP.

Thus, WIP refers to that project that is still in process and not yet completed.

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Alex's parents decide to deposit an amount of money at the end of every month into a bank account earning interest at the rate of 5% per year compounded monthly. If the savings program began when Alex was 4 years old, how much money should his parents deposit monthly so there will be an accumulated fund of $100,000 by the time he turns 19 years old?

Answers

The amount of money that Alex's parent should deposit monthly is $374.43.

What should be the monthly deposit?

The payments made by Alex's parents is known as an ordinary annuity. An ordinary annuity is when a series of payments is made over a period of time at the end of the period.

The formula that can be used to determine the amount that should be deposited monthly is:

Monthly payments = future value / annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

r = monthly interest rate = 5% / 12 = 0.417%n = number of payment period = number of compounding x number of years

Number of years = 19 - 4 = 15

15 x 12 = 180

Monthly deposit = 100,000 ÷ [{(1.00417^180) - 1} / 0.00417] = $374.43

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When considering the three basic decisions a firm must make when it decides to enter a foreign market, it must determine the market to enter, the timing of entrance, and.

Answers

When considering the three basic decisions a firm must make when it decides to enter a foreign market, it must determine the market to enter, the timing of entrance, and the scale.

A firm taking into account overseas growth must make 3 simple selections: which markets to go into, whilst to go into those markets, and on what scale.

Agarwal and Ramaswami (1992) depicted elements that determine the choice of unique foreign market entry mode in 3 classes: ownership gain of a firm, area gain of a market, and internalization advantage of integrating transactions.

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The IRS has the authority to assess a monetary penalty to who

Answers

the IRS has the authority to impose penalties on tax professionals.

The IRS is the Internal Revenue Service unit for the United States, which is in charge of collecting federal taxes in the United States and overseeing the Internal Revenue Code, the principal section of federal statutory tax legislation.

It is a division of the Treasury Department and is run by the Commissioner of Internal Revenue, who is picked by the US President for a five-year term. Among the responsibilities of the IRS are helping taxpayers with their taxes, pursuing and resolving cases of incorrect or fraudulent tax files, and managing a number of benefit programs, including the Affordable Care Act.

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What will be the impact of cut in taxes on aggregate demand?

Answers

The  impact of cut in taxes on aggregate demand is that it will shift both aggregate demand and aggregate supply.

What is the  impact of cut in taxes on aggregate demand?

Supply-side tax cuts  can be carried out to stimulate capital formation.

It shpould be noted that once this process is carried out If successfully, there will be a shift on both aggregate demand as well as the aggregate supply  and the reason for this is that the price level for a supply of goods will be reduced hence the increase in demand for those goods.

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The  impact of cut in taxes on aggregate demand is: aggregate demand curve will shift outward.

What is aggregate demand?

Aggregate demand can be defined as the amount of goods and service that are demanded in the market at a particular period of time.

A cut in taxes on aggregate demand will tend to shift the demand outward which in turn  will help to increase the amount of goods that consumer will demand.

Therefore the impact of the cut in taxes will shift the aggregate demand.

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Answer right away!!!!!!!! 10 points

Answers

Alena has just joined a chapter of FBLA-PBL. Public speaking skills with the most likely to gain with FBLA-PBL. The correct option is D.

What does FBLA-PBL teach?

Leadership Development—by holding chapter officer positions at the local, state, and national levels; networking with accomplished business professionals; and participating in business-focused workshops, seminars, and academic competitions, members develop essential soft skills.

Through innovative leadership and career development programs, the FBLA-PBL mission is to foster a positive working relationship between business and education. Career exploration, civic service, economic education, and technical skill advancement are examples of extracurricular activities.

Thus, the ideal selection is option D.

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Use the Internet to research careers in information technology. Jot down answers to these questions:
What kinds of careers are available in IT?
What kinds of responsibilities, tasks, and skills does a person have or need to be successful in this field?
Create a two-column chart. In the first column, list what you would say in the ad. Keep your sentences short, use strong verbs, and be persuasive. In the second column, list effects for the ad. For example, you might include upbeat music at the start of the ad and describe sound effects.

Answers

Principle benefits of the usage of the net for your activity search encompass the capability to: get entry to timely activity notices across the clock. Discover unusual or hard-to-find career data. Speak with experts or aid corporations in specialized areas.

Information technology specialists look at, design, increase, put in force, support, and control pc-primarily based facts systems, including each software program and laptop hardware.

Almost every organization desires a team of savvy pc professionals to maintain its structures up and walking. You could discover work in pretty much every industry you want, including economic offerings, enjoyment, authorities, hospitality, healthcare, manufacturing, retail and extra.

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charging a customer different prices per unit, depending upon the number of units purchased is called

Answers

It can be inferred that charging a customer different prices per unit depending on the number of units is called price discrimination.

What is price discrimination?

Price discrimination is a sales strategy in which customers are charged different prices for the same product or service based on what the seller thinks they can get the customer to accept. In pure price discrimination.

The seller charges each customer the maximum price he will pay. In the most common forms of price discrimination, the salesperson divides customers into groups based on certain attributes and charges each group a different price.

more insight on price discrimination

Price discrimination is practiced based on the seller's belief that customers of certain groups may be asked to pay more or less based on certain demographics or how they value the product or service in question.

Price discrimination is most useful when the gain from separating markets is greater than the gain from keeping markets together. The effectiveness of price discrimination and the length of time that different groups are willing to pay different prices for the same product depends on the relative elasticity of demand in the submarkets

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An individual who is employed part time but is looking for a full-time job is classified as.

Answers

Also, an individual who is working part-time at an office job but would prefer to instead work full-time is considered underemployed.

Underemployment is the underuse of a worker because a job does no longer use the worker's talents, is a component-time, or leaves the employee idle. Examples consist of conserving a part-time job despite wanting complete-time work, and overqualification, wherein the worker has the education, enjoy, or talents past the requirements of the activity.

Underemployment has been studied from a ramification of perspectives, which include economics, management, psychology, and sociology. In economics, for example, the term underemployment has three exceptional awesome meanings and applications. all of the meanings contain a scenario wherein someone is operating, in contrast to unemployment, where someone who's looking for work cannot discover an activity. All meanings contain below-utilization of hard work which is missed by maximum legit (governmental company) definitions and measurements of unemployment.

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__________ technology uses a continuous Internet connection that allows users to send and receive mammoth files that include voice, video, and data much faster than ever before.

Answers

Broadband technology is the technology uses a continuous Internet connection that allows users to send and receive mammoth files that include voice, video, and data much faster than ever before.

What is Broadband technology ?

Broadband technology, can be desceibed as the technology which involves the telecommunications devices, as well as the  lines, or which  allow communication over a wide band.

It shoud be noted that this technology make use of broad of frequencies,  which do encompass the  range of frequencies  having differnt independent channels which is been used for ransmission.

In conclsion the technology that is been described above is ben used in the process of  receiving mammoth files which could encompass  voice, video and it is been used by the indivduals as well as the organization that run business with customers around the world or within the country.

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"When the isocost line is tangent to the isoquant, then
A) the firm is producing that level of output at minimum cost.
B) the firm has achieved the right economies of scale.
C) MPL = MPK.
D) All of the above "

Answers

When the isocost line is tangent to the isoquant it indicated the firm is the firm is producing that level of output at minimum cost. The firm has achieved the right economies of scale and marginal productivity of Labor(MPL) is equal to the marginal productivity of capital(MPK).

What is the isocost line?

An isocost line is a line that represents all combinations of the factors of production of a firm that have the same total cost. Capital (K) or labor (L) are classified as factors of production.

The isocost line is combined with the isoquant map to determine the optimal production at an given level of output. The point of tangency between any isoquant and an isocost line represents the least-expensive combination of inputs capable of producing the level of output associated with that isoquant. It also indicates the highest level of output possible for a given total cost of inputs.

Therefore, the correct answer is option D. All the conditions mentioned satisfies the tangency of isocost line to the isoquant.

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Explain all the three levels of management and their functions separately​

Answers

1. Top-level management- Also known as administrative level management, it helps to guide through the work. It helps to organize the work. Planning Creating strategies, selection, and formation of teams, coordination, and implementation of the work are the main functions. An example of top-level management is the managing director.

2. Middle-level management - Also known as executive management is basically a joining bridge between the high level and low-level management. They focus on the right ways to execute the work in accordance with the policies and ethics of the company. Supervising the working team is their main function. An example of middle-level management is a product manager.

3. Low-level management- Also known as operative management they are hired to execute the work properly, maintain the quality of the work, and have strict ethics. They provide guidelines to the workers and the laborers. An example of low-level management is the department head.

Is a principal under a duty to compensate an agent who works on the principal’s behalf?.

Answers

The principal has a duty to compensate, or indemnify, the agent for liabilities arising from the agent's lawful and authorized acts on the principal's behalf.

What is Indemnification?To "indemnify" someone implies to make restitution for their losses or damages. In most contracts, an indemnity clause is used to make up for damage or loss caused by the other party's conduct or inaction. The goal is to transfer responsibility from one party to the one providing indemnification. It is also referred to as a "keep harmless" clause because each party agrees to defend the other in specific situations. Typically, the events result from a circumstance within the indemnifying party's (again, the party who is doing the compensating, or the paying party).

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What does a decrease in federal government purchases do to the neo-keynesian model used in class?.

Answers

Keynesians believe that due to the fact expenses are extremely inflexible, fluctuations in any component of spending—consumption, funding, or government fees—purpose output to exchange.

If government spending will increase, for an instance, and all different spending additives continue to be consistent, then the output will grow.

It blanketed tax cuts/credit and unemployment benefits for families; it also earmarked expenses for healthcare, infrastructure, and education. those stimulus measures and federal interventions helped America's economy get better, preventing the splendid Recession from turning into any other complete-blown depression.

He argued that uncertainty prompted people and agencies to stop spending and making an investment, and government have to step in and spend cash to get the financial system lower back on course.

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Why are income taxes monthly expenses?

Answers

Income tax aids in the government's ability to produce a consistent stream of revenue, which is then applied to the nation's development. Even though income tax is deducted from monthly earnings and paid each month, it is still computed annually.

Why is income tax an expense?

Tax costs are all of the taxes that a person, business, or other entity owes to the government. Taxable income is multiplied by the effective tax rate to calculate income tax expense. Other taxes, like inheritance or property taxes, may be assessed against the value of an item.

Meanwhile, income tax is a tax that the government imposes on both corporate and personal income. Income tax is viewed as a cost for the individual or corporation because there is an outflow of cash due to tax payout.

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Uber’s lack of knowledge of the local business environment has caused it to suspend service in several important cities. To avoid the challenges related to a lack of knowledge of the local market and local regulations, uber should have.

Answers

To avoid the challenges related to a lack of knowledge of the local market and local regulations, uber should have planning.

Setting goals and choosing a course of action to achieve them are both part of the management task of planning. Managers must foresee future situations and be aware of the current environmental factors affecting their firm. Managers must also have strong decision-making skills.

The process of planning involves various steps. The first step in the process is environmental scanning, which essentially implies that planners need to be aware of the significant risks to their business from the perspective of the economy, their rivals, and their clients. The next step is for planners to try to predict future conditions. Planning is based on these estimates.

Planners must set objectives, which are declarations of what must be accomplished and by when. The next step for planners is to decide on alternate strategies for achieving goals.

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What type of decision determines whether a project is worth all the effort and investment or should it be halted, and is commonly based on the outcome of a multi-dimensional feasibility assessment of the project?.

Answers

No Go decision type of decision determines whether a project is worth all the effort and investment or should it be halted, and is commonly based on the outcome of a multi-dimensional feasibility assessment of the project.

The smallest mistake you make can start a chain reaction that will lead to failure. Project management is a hard business. The Go/No Go decision can be used to ensure that everything is impeccable throughout.

A project's worth and viability are determined by a go/no-go decision, which decides whether to move forward with it or put it on hold. The decision-making standard is established by the organization itself and is specific to the requirements of the business. Whether a corporation continues the process or not depends on the outcome of the process.

Go no go analysis is a final checklist for incremental initiatives that assesses whether or not the project should move on to the next stage.

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As emphasized in the text, much of our success within organizations is connected to.

Answers

Much of our performance in organizations is related to our cognitive potential, as was underlined in the text.

Knowledge acquisition, information manipulation, and reasoning all require cognitive skills, sometimes known as cognitive potential, cognitive talents, or cognitive capacities.Perception, attention, memory, learning, decision-making, and language skills are all examples of cognitive potential.

Cognitive functioning is the term for a person's capacity for mental processing. It's described as "the capacity for carrying out the various mental tasks that are most closely related to learning and problem-solving. The verbal, spatial, psychomotor, and processing-speed abilities are a few examples." Memory, speech, and the capacity to pick up new information are the main components of cognition.

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Describe the demographic segmentation that a company would use to
categorize you as a potential customer. Do you think you are representative of
that segmentation? Explain why or why not.

Answers

Seach engines are tracking all sorts of other things. Such as the most recent searches. What you've been reading so far. What you've been looking for but haven't purchased- your clothing measurements, your moral principles, the information in your emails.  Psychographic profiling is all about understanding who your customers are, what really matters to them, what their values are, and how that intersects with their purchasing decisions, preferred information sources, and so on.


Demographic segmentation of customer bases is now extremely complex, allowing for micro-targeting on previously unimaginable scales. So, do I represent a segmentation? I am, indeed.

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Why do managers ask employees to check inventory lists?

A.
to keep employees busy when there is little work to do

B.
to discover which items employees like the best

C.
to find out which items are most and least expensive

D.
to find out if any items that should be for sale are stolen or lost

Answers

the answer is the last answer D

If you’re trying to gain access to a credit card before you turn 21, which of the suggestions rely on the support of a parent or guardian?

Answers

Answer:

Explanation: If you want to get a credit card before your 21 then your  guardian is gonna have to hold on to it.

hope this helped you out!

An economist estimated that the cost function of a single-product firm is

C(Q) = 100 + 20Q + 1502 + 1003

Based on this information, determine:

a. The fixed cost of producing 10 units of output.

b. The variable cost of producing 10 units of output.

c. The total cost of producing 10 units of output.

d. The average fixed cost of producing 10 units of output.

e. The average variable cost of producing 10 units of output.

f. The average total cost of producing 10 units of output.

g. The marginal cost when Q = 10.

Answers

Where C(Q) = 100 + 20Q + 15Q² + 10Q³ is the cost function,

(a) Fixed cost (FC) = $100 (which is fixed irrespective of output level)

(b) Variable cost (VC) = 20Q + 15Q² + 10Q³

When Q = 10, VC = (20 x 10) + (15 x 10 x 10) + (10 x 10³) = 200 + 1,500 + 10,000 = $11,700

(c) Total cost (TC) = FC + VC = $(100 + 11,700) = $11,800

(d) Average fixed cost (AFC) = FC/Q = $100 / 10 = $10

(e) Average variable cost (AVC) = VC/Q = $11,700 / 10 = $1,170

(f) Average total cost (ATC) = TC/Q = $11,800 / 10 = $1,180

(g) Marginal cost (MC) = dC(Q)/dQ = 20 + 30Q + 30Q²

When Q = 10, MC = 20 + (30 x 10) + (30 x 10 x 10) = 20 + 300 + 3,000 = $3,320

What is a cost Function?

The cost function calculates the cheapest way to produce a particular amount of output for some set factor costs. The cost function describes a firm's economic options.

The functional connection between cost and output is referred to as the cost function. It investigates the cost behavior at various levels of production when technology is considered to be constant. It may be stated as follows: C= f(Q) (where C is the cost of production and Q is the quantity of output).

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Full Question:

An economist estimated that the cost function of a single-product firm is:

C(Q) = 100 + 20Q + 15Q² + 10Q³.

Based on this information, determine the following:

a. The fixed cost of producing 10 units of output.

b. The variable cost of producing 10 units of output.

c. The total cost of producing 10 units of output.

d. The average fixed cost of producing 10 units of output.

e. The average variable cost of producing 10 units of output.

f. The average total cost of producing 10 units of output.

g. The marginal cost when Q = 10.

Other Questions
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