In December 2018, Max, a cash-basis taxpayer, rents an apartment to Kadeem. Max receives both the first and last months' rent totaling $1,800 plus a security deposit of $400. The amount of income reported by Max as taxable in 2018 is
A. $400.
B. $2,200.
C. $1,800.
D. $1,300.
Answer: C
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The cash flow on total assets ratio is affected by income recognition and measurement.
Answer the following statement true (T) or false (F)
What challenges do employers and societies face as a result of people living longer healthier lives?
a. The number of elderly people will outpace the number of young people. *b. There will be roughly equal numbers of people living in each generation. c. Countries will have increased expense as they fund social security and retirement fund programs. d. There will be greater unemployment for younger people as the older people remain in the workforce.
The single milling machine at Stout Manufacturing was severely overloaded last year. The plant operates eight hours per day, five days per week, and 50 weeks per year. Management prefers a capacity cushion of 15 percent
Two major types of products are routed through the milling machine. The annual demand for product A is 3000 units and 2000 units for product B. The batch size for A is 20 units and 40 units for B. The standard processing time for A is 0.5 hours/unit and 0.8 hours/unit for B. The standard setup time for product A is 2 hours and 8 hours for product B. How many new milling machines are required if Stout does not resort to any short-term capacity options? A) no new machines B) 1 or 2 new machines C) 3 or 4 new machines D) more than 4 new machines
Under Alternative A of the Code's horizontal privity provision, a corporation may bring a case against the manufacturer of a defective product for breach of the warranty of merchantability
Indicate whether the statement is true or false