An IRS-allowed reduction in your income for yourself, your spouse, and any dependents that is subtracted before you compute your taxes is called a(n)
A) itemized exemptions.
B) standard exemptions.
C) marital exemptions.
D) personal exemptions.
Answer: D
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National Mining Company purchased a mine, which holds an estimated 40,000 tons of iron ore, on January 1, 2018, for $524,000. The mine is expected to have zero residual value. The business extracted and sold 13,500 tons of ore in 2018 and 11,800 tons of ore in 2019. What is the depletion expense for 2018? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $154,580 B) $176,850 C) $114,580 D) $347,150
Beverly lives in a sparsely populated area in northern Idaho. Some insurance companies marketing coverage in northern Idaho cannot afford to have full-time adjustors there
Several insurers hire Beverly to adjust claims for their insureds. Beverly charges the insurers a fee for each claim that she settles. Beverly is a(n) A) public adjustor. B) adjustment bureau. C) independent adjustor. D) company adjustor.
The Economist publishes annually the "Big Mac Index" by which they compare the prices of the McDonald's Corporation's Big Mac hamburger around the world
The index estimates the exchange rates for currencies based on the assumption that the burgers in question are the same across the world and therefore, the price should be the same. If a Big Mac costs $2.54 in the United States and 294 yen in Japan, what is the estimated exchange rate of yen per dollar as hypothesized by the Hamburger index? A) $0.0086/¥ B) ¥124/$ C) $0.0081/¥ D) ¥115.75/$
All of the following describe the effects of globalization except:
A) significant decreases in operating costs. B) reduction of labor costs through outsourcing. C) ability to find low-cost suppliers. D) increases in transaction costs. E) replication of business models in multiple countries.