Clyde operates a sole proprietorship using the cash method. this year clyde made the following expenditures: $480 to u. s. bank for 12 months of interest accruing on a business loan from september 1st of this year through august 31st of next year. $600 for 12 months of property insurance beginning on july 1 of this year. what is the maximum amount clyde can deduct this year?
a. $760
b. $600
c. $480
d. $160
e. $360

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. income reported on the income statement for the year was $180,000. exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?

The blank is type of decision-maker who over analyzes information