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- What is LIBOR? Why is it used as the lowest compute rate?Which of the following is not considered a current liability? A.Unearned Revenue B.The component of a twenty-year note payable due in year 20 C.Current portion of a noncurrent note payable D.Accounts PayableDiscuss whether any of the following individuals are entitled to an office-in-home deduction: a. Maggie is a self-employed management consultant who maintains an office in her home exclusively used for client meetings and other business-related activities. Maggie has no other place of business and her office is the most significant place for her business. She has substantial income from the consulting practice. b. C. Marty is a college professor who writes research papers for academic journals in his office at home which is used exclusively for this purpose. Although Marty has an office at his place of employment, he finds it very convenient to maintain an office at home to avoid distractions from students and colleagues. Marty receives no income from the publication of the research articles for the year in question. Bobby operates his own sole proprietorship as an electrician. He maintains an office at home where he keeps his books, takes phone calls from customers, and does the…
- Hic X A unit 511/29 - Google Docs chools.foolproofonline.info/modules/renting/test/ Paniagua - Cl.. Question 4 What should be the maximum spending on housing if your gross income is $2,400 per month? O A. $650. OB. $850. Oc. $700. OD. $800.When the seller of real estate passes title using a quitclaim deed, what protection against defects in the title is assured to the buyer? A. protection against only those defects that occurred during the seller's period of ownership B. full protection C. no protection D. protection against only those defects that occurred prior to the seller's period of ownershipWhat are standard deductions?
- Describe three methods a person could use to acquire legal title to real property.The Time of Payment of Claims provision requires that an insurance company pay Disability Income benefits no less frequently than. A.annually B.semiannually C.quarterly D.monthly5.6 Show What You Know - Buying vs Leasing A Vehicle /22 1. Tyler is a contractor in Winnipeg and needs a new truck for his business. The total purchase price is $59 300.45. He has $5000 saved for a down payment. He needs to decide whether he should buy or lease his vehicle. When you buy or lease a new vehicle you need to pay Federal and Provincial sales tax. Buying Option: O The loan for the purchase includes the taxes and must be repaid in 48 monthly payments of $1195.49 plus the down payment. Leasing Option: O There are 48 monthly payments of $720.25 plus taxes plus the down payment. O The purchase price at the end of the lease is $27 100. a. What is the total cost to buy the truck? b. What is the monthly lease payment including taxes? c. What is the total cost to lease for 4 years? d. What is the cost to buy the truck at the end of the lease? e. How much will Tyler have spent in total if he buys the truck after the four year lease? f. What would you suggest Tyler do and why?
- A homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due to the insured for the unexpired policy period? 1. $525 2. $625 3.$1150 4. $0Which of the following types of business ownership has the highest personal liability risk?d C b a U 0 30 50 75 W 100