whether the liability of a sole proprietor is limited to the extent of his/her contribution in business ...

Norm is a real estate professional with a real estate trade or business as defined in the tax law. He has $150,000 of business income and $50,000 of losses from actively managed real estate rentals.

The state collects a gasoline tax that must be used to support highway construction and maintenance. The gasoline tax revenue should be accounted for in which of the following funds? General fund. Special revenue fund. Debt service fund.

Match each type of bond with its description. a. Secured Secured drop zone empty. b. Callable bonds Callable bonds drop zone empty. c. Convertible bonds Convertible bonds drop zone empty. d. Term Term drop zone empty. e. Serial bonds

If the price of good X increases by 2%, and that causes the quantity demanded of good Y to decrease by 15%, then the cross elasticity of demand for good Y, with respect to the price of good X, is

What identifies data outside of a normal condition?

In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, the Consumer Price Index was 125 and the average nominal level of income was $32,000. What happened to real income from year 1 to year 2?

Coral Think Inc. is a new company in the publishing industry. It has raised sufficient capital from multiple sources. It is planning to use its capital to purchase certain assets.

During July at Loeb Corporation, $83,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $4,000.

The partnership agreement of E Smith and N Patel state that Smith receives 30% and Patel 70% of partnership income and losses. The partnership net income is $100,000 and is allocated to the partners when the income summary account is closed.

What causes changes from one phase of the business cycle to another?