Which transactions will the recipient be least likely

Assignment Help Managerial Accounting
Reference no: EM132547123

Question 1: In which of the following transactions will the recipient be least likely to have to include an amount as assessable income?

Select one:

Option a. A business taxpayer receives a new photocopier valued at $1,200 with an effective life of four years in the course of carrying on their normal business activities.

Option b. A total of $500 worth of non-cash business benefits received by a person carrying on a business where the benefits were derived in the normal course of business.

Option c. A business taxpayer receives a cash payment for services rendered.

Option d. A business taxpayer receives a free holiday on the Gold Coast valued at $1,500 in the course of carrying on their normal business activities.

Option e. A taxpayer receives a cash payment for services rendered.

Reference no: EM132547123

Questions Cloud

Radiometric dating system : You are heading a joint geological/archeological/paleobiological team and you turn up a new Neanderthal site.
Journalize the partnerships receipt of assets : Journalize the partnership's receipt of assets and liabilities from Cooke and Bamber on November 10. Compute the partnership's total assets
Discuss one nursing theory and identify the effect : After your graduation, you will be in an academic or clinical field. Depending on your field choice, discuss one nursing theory and identify the effect.
What is behavioral oscillating mechanisms : When male horses (stallions) and female donkeys (jennets) mate, they produce a sterile hybrid called a hinny. Hinnies occur
Which transactions will the recipient be least likely : Which transactions will the recipient be least likely to have to include an amount as assessable income? A business taxpayer receives a cash payment
How long does merchandise stay around before it is sold : Credit sale for year ended 50,000 and cost of goods sold was 30,000. How long does merchandise stay around before it is sold
Identify the four research databases : Identify the four research databases that you used to conduct your search for the peer-reviewed articles you selected. Provide APA citations of the four.
Enzyme reaction rate calculation for trial 1 : [1] Sample Calculation: Show your enzyme reaction rate calculation for Trial 1.
Find the taxpayer was undertaking the mere realisation : Which of the statements is least likely to lead to a conclusion that the taxpayer was undertaking the mere realisation of a capital asset?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd