How does a partner treat premiums on health insurance provided by the partnership?
A. As an ordinary income item reported on a W-2.
B. As a separately stated item.
C. As a capital gain item.
D. As a guaranteed payment.
Answer: D
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Reading a journal during a meeting in cultures which follow a polychronic time system is considered rude
Indicate whether the statement is true or false.
The European Union was created by a multilateral treaty
Indicate whether the statement is true or false
What economic environment is associated with the highest entrepreneurial self-perceptions (feeling they could start a business)?
a. efficiency-driven b. factor-driven c. people-driven d. innovation-driven
On January 1, Alistair Manufacturing had a beginning balance in Work-in-Process Inventory of $164,000 and a beginning balance in Finished Goods Inventory of $25,000
During the year, Alistair incurred manufacturing costs of $202,000. During the year, the following transactions occurred: Job C-62 was completed for a total cost of $140,000 and was sold for $157,000. Job C-63 was completed for a total cost of $181,000 and was sold for $212,000. Job C-64 was completed for a total cost $82,000 but was not sold as of year-end. The Manufacturing Overhead account had an unadjusted credit balance of $24,000 and was adjusted to zero at year-end. What was the amount of gross profit reported by Alistair at the end of the year? A) $48,000 B) $72,000 C) $17,000 D) $31,000