subject
Business, 06.05.2020 03:43 Allyf23

An individual client asks a CPA to determine whether the client is solvent for federal tax purposes. The client has assets consisting of cash and marketable securities with a basis of $250,000 and a fair market value of $155,000. The client has liabilities of $175,000, which include $130,000 of nondischargeable liabilities under the Bankruptcy Code. Which of the following statements is correct?A) The client is insolvent since the client's liabilities exceed the fair market value of the client's assets by $20,000B) The CPA is unable to determine whether the client is solvent or insolvent because the CPA is not an accredited appraiserC) The client is solvent because the fair market value of the client's assets exceeds the client's nondischargeable debt by $25,000D) The client is solvent because the basis of the client's assets totals $250,000 and exceeds the client's liabilities by $75,000

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 20:30
The hawthorne works was a large western electric factory with 45,000 employees. during the 1920s and 1930s, hawthorne works was the site of some well-known industrial studies. in one of the studies, researchers investigated the impact of different working conditions on worker productivity. prior to the start of the study, researchers secretly measured workers' productivity for several weeks. then researchers chose two workers, who then chose their own teams. the teams were separated from the general workforce and completed their work in different experiment rooms where the researchers could observe them more easily. over a 5-year period researchers manipulated the structure of the workday for each team (number and duration of breaks and number of hours per shift). for each of these changes in working conditions, the researchers measured the effect on productivity. for some conditions, such as frequent short breaks, workers rebelled by intentionally decreasing productivity.why did the researchers secretly measure the workers' productivity before creating the two treatment groups? a, to create similar treatment groups so that a cause-and-effect relationship could be establishedb, to draw conclusions about the productivity of all workers in the plant based on the test groupsc, to directly control for confounding variablesd, to provide a baseline for measuring worker productivity
Answers: 3
question
Business, 22.06.2019 07:30
When the national economy goes from bad to better, market research shows changes in the sales at various types of restaurants. projected 2011 sales at quick-service restaurants are $164.8 billion, which was 3% better than in 2010. projected 2011 sales at full-service restaurants are $184.2 billion, which was 1.2% better than in 2010. how will the dollar growth in quick-service restaurants sales compared to the dollar growth for full-service places?
Answers: 2
question
Business, 22.06.2019 20:50
1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.
Answers: 1
question
Business, 23.06.2019 02:40
James sebenius, in his harvard business review article: six habits of merely effective negotiators, identifies six mistakes that negotiators make that keep them from solving the right problem. identify which mistake is being described. the negotiator has neglected to consider the course of action he will take if the proposed deal is not possible.
Answers: 3
You know the right answer?
An individual client asks a CPA to determine whether the client is solvent for federal tax purposes....
Questions
question
Biology, 22.04.2021 01:00
question
Advanced Placement (AP), 22.04.2021 01:00
question
Mathematics, 22.04.2021 01:00
question
Mathematics, 22.04.2021 01:00
question
English, 22.04.2021 01:00
question
Mathematics, 22.04.2021 01:00
question
Mathematics, 22.04.2021 01:00
Questions on the website: 13722367