Explanation:
We have to note an important point here is that, Smith has plan to sell fraudulent identification card through Jones and he has done only Oral agreement.
An oral agreement does not have a proof. Any oral agreement cannot be taken as a proof legally. There must be a proper written agreement required to prove the relationship. There are certain standard too in written agreement.
For Example, agreement written on a normal white paper cannot be accepted. The agreement should be legally signed according the bond paper provided and authorized by the Government.
Considering all the above discussion, Jones stands right.
Answer: a). Spain
b). none
c). 2.4
Explanation: a). Absolute advantage occurs when a country produces more of a good than the other country. In this case, Spain produces 50 units of Tractors while, Bolivia produces only 30 units of Tractors. Thus, Since Spain is producing more it has an absolute advantage in Tractors.
b). Both the countries are producing equal units of Cotton. Thus, we can say that none of them has an absolute advantage in cotton production.
c. Opportunity cost is the cost of the lost alternative. When Spain produces Tractors it is sacrificing production of Cotton. So, opportunity cost on 1 unit of Tractor will be,
Thus, 2.4 units of cotton which is given up is the opportunity cost of Spain for producing 1 unit of Tractor.
Answer: a. $52,300 b. $12,200 c. 0 d. $40,100
Explanation:
a. Given according to the IRS regulations of loss on investment (up to $3000)
Adjusted gross income: Salary received + Interest income received + dividend income received - loss on investment based on IRS regulations
= 53300 + 1600 + 400 - 3000
= $52,300 (Adjusted gross income)
b. Based on 2019 IRS increased filing status for Single individuals, The Standard deduction amount is $12,200
c. According to the 2019 IRS announcements, There are no personal exemption amount. This was set to zero (0) under the Tax Cuts and Jobs Act.
d. Going by the simple formula of:
Taxable Income = Adjusted Gross Income - Exemption - Standard Deduction
= 52300 - 0 - 12200
= $40,100 (Taxable Income)
I hope this helps.
Answer: he could benefit from adopting such a system, but should also consult with an accountant for advice about what's best.
