Chapter 08 Business Income‚ Deductions‚ and Accounting Methods SOLUTION MANUAL Discussion Questions 1. [LO 1] What is an “ordinary and necessary” business expenditure? “Ordinary” and “necessary” imply that an expense must be customary and helpful‚ respectively. Because these terms are subjective‚ the tests are ambiguous. However‚ ordinary is interpreted by the courts as including expenses which may be unusual for a specific taxpayer (but not for that type of business) and necessary is
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Chapter 12 1. A) Justinian I was an emperor of the Byzantine Empire. He reformed the roman laws by rearranging them and putting them in order. The revised law code called Justinian’s Code. B) Theodora influenced the nika revolt because she stood strong and convinced her king to do the same. C) Justinian could have made his achievements by being more conscious of how much land his government could support when he was taking over the land to the west. 2. A) A mosaic is a piece of art comprised
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Chapter 9 Strategic Management 1) A business model describes how a company is going to make money. 2) The first step in the strategic management process is analyzing the external environment. 3) Evaluating an organization’s intangible assets is part of conducting an internal analysis in the strategic management process. 4) Activities that an organization does well or resources that it has available are called capabilities. 5) When conducting a SWOT analysis‚ threats are activities the organization
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Chapter 12 With Jane’s recovery complete‚ she and Elizabeth decide to return to the Bennet household. However‚ their mother makes excuses as to why they cannot use the carriage to return. Jane is finally coerced into borrowing Bingley’s carriage‚ but it means they will need to wait for one more day to leave. Meanwhile‚ Darcy notes that he has been paying too much attention to Elizabeth and decides to speak with her less. The next day the Bennet sisters return home to a mother who is not entirely
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(I) INTRODUCTION A channel of distribution or trade channel is defined as the path or route along which goods move from producers or manufacturers to ultimate consumers or industrial users. In other words‚ it is a distribution network through which producer puts his products in the market and passes it to the actual users. This channel consists of :- producers‚ consumers or users and the various middlemen like wholesalers‚ selling agents and retailers(dealers) who intervene between the producers
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Reese’s Distribution channels Introduction Any product or service in the marketplace utilizes distribution channels to reach its customers. Although the manufacturers and services providers can and do provide their goods and services directly‚ utilizing distribution channels multiplies the number of goods and services that reach the marketplace (Advameg‚ Inc‚ 2011). Therefore‚ distribution channels can increase market share and profit margins since these distribution channels help the company’s
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perform a distribution function. The distribution function is vital to the economic well-being of society because it provides the goods and services desired by the consumer. Economists often describe the value of distribution in terms of ownership‚ place‚ and time utility. The marketer contributes to the product’s value by getting it to the right place at the time the consumer wants to buy it and by providing the mechanism for transferring ownership. Firms that do not perform the distribution function
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Normal Distribution Normal distribution is a statistics‚ which have been widely applied of all mathematical concepts‚ among large number of statisticians. Abraham de Moivre‚ an 18th century statistician and consultant to gamblers‚ noticed that as the number of events (N) increased‚ the distribution approached‚ forming a very smooth curve. He insisted that a new discovery of a mathematical expression for this curve could lead to an easier way to find solutions to
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El Paso and gradually built a customer base throughout Texas. A distribution center was established in Ft. Worth‚ Texas later‚ as business expanded to the north; a second distribution center was established in Santa Fe‚ New Mexico. The El Paso plant was expanded when the company began marketing its meters in Arizona‚ California‚ Nevada‚ and Utah. With the growth of the West Coast business‚ the Darby Company opened a third distribution center in Las Vegas and just two years ago opened a second production
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Discuss whether taxation is the most effective solution to the market failures arising from negative externalities. Negative externalities are defined as‚ “[negative] third party effects arising from production and consumption of goods and services which no appropriate compensation is paid.” This means the marginal cost curve only takes into account the private costs and not the external/social costs‚ and so there is an overproduction of the good or service. This misallocation of resources means
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