Adam is confused. He does not understand why rent on his apartment is a fixed cost and rent on a Hertz rental truck is a mixed cost. Explain the difference to Adam.
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- Adam is confused. He does not understand why rent on his apartment is a fixed cost and rent on a Hertz rental truck is a mixed cost. Explain the difference to Adam.
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- Question: 1. Adam is confused. He does not understand why rent on his apartment is a fixed cost and rent on a Hertz rental truck is a mixed cost. Explain the difference to Adam.Can Lucia defer revenues and accrue as many expenses as possible and still be ethical?Alex has unexpectedly been made redundant from his job as a gardener and is struggling financially. Explain three ways that unemployment can impact negatively on an individual’s self-concept.
- Which of the following is not related to Opportunity costs? None of the choices O Rental Income given up when you live in a house you own. Salary given up to start a business O fixed costs to be incurred when you accept a special request from an existing client.John is frustrated in his inability to sell his house for the amount he wants. What should Anita do to educate John? Will this education process help Anita obtain the listing? How?Your roommate at school believes that all fixed costs are always avoidable. Do you agree? How would you explain your point of view to your roommate?
- If Kevin works off the clock, then he will sacrifice family time and responsibilities. This is an example of what type of ethical reasoning?Which of the following is not related to Opportunity costs? a. Salary given up to start a business b. Rental Income given up when you live in a house you own. c. fixed costs to be incurred when you accept a special request from an existing client. d. None of the choicesAlthough the selection of housing is usually based on life situation and financial factors, we should also consider what we might have to give up. In this context, it is correct to say that: * One of the main advantages of owning a previously owned house is the fewer responsability for maintenance. One of the main advantages of renting an apartment is the pride of ownership. One of the main disadvantages of owning a manufactured home (mobile home) is to be more expensive than other ownership options. The lost earnings from interest on the money used for a down payment on a home is an important opportunity cost when we decide to buy a house or make a mortgage.
- Sven was recently quoted on a disability policy with an any occupation definition of disability. Sven does want to buy disability coverage, however, the premium was more than he was willing to pay. Sven has some savings built up as an emergency fund and manages his cash flow quite well, so he knows what premium he can afford without impacting his standard of living. What change could Sven consider that would reduce his premium but allow for coverage to continue to meet his objective? a) He could increase the elimination period of the policy b) He could increase the length of his benefit period. c) He could change the definition to own occupation. d) He could decrease the waiting period.A friend of the family believes that depreciation provides him with a reserve to purchase new assets. His secretary has blown up his computer, but he knows he has the funds to replace it in the accumulated depreciation account. You know he is wrong and have grown tired of listening to him going on about it, but he won’t listen to what you have to say. You decide to put him out of his misery by writing a letter to him about it that he may actually read before he realises that it is telling him things he does not want to hear. Write him a letter, using fictitious names and addresses, which defines depreciation and explains why his view is incorrect.Which of the following taxpayers may not use the standard mileage method of calculating transportation costs? a.A self-employed CPA who drives a computer-equipped minivan to visit clients. b.An attorney who uses his Tesla for calling on clients. c.A taxpayer who has a fleet of 10 business automobiles. d.A real estate salesperson who drives a $70,000 Mercedes while showing houses. e.All of these taxpayers may use the standard mileage method.
