Business, 14.12.2019 05:31 20jhuffman

Shifty borrowed $10,000 from easy. when easy tried to collect the debt, she discovered that shifty had moved to another state. easy tracked shifty down and demanded payment. knowing it would cost easy a substantial amount of time and money to collect the debt, shifty offered to pay $5,000 on the condition that easy cancel the remainder of the debt. easy agreed to accept the $5,000 and cancel the remaining $5,000 of the debt. which of the following statements is correct? a. shifty has $5,000 of income when easy cancels the debt. b. easy has $5,000 of income upon collection of half of the debt. c. shifty had $10,000 of income upon obtaining the loand. neither shifty nor easy has any income from his transaction.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 21:30

Dr. dow jones wants to know whether a problem-based approach to teaching economics will result in higher academic performance than his traditional method. of the six sections of economics 101 at his university, dr. jones randomly assigns three sections to the traditional method and three sections to the problem-based method for unit 1 of the course. then all sections switch the instructional method for unit 2. he plans to compare the performance of the two groups of sections on their unit 1 and unit 2 exams. this study employs a design.

Answers: 3

Answer

Business, 22.06.2019 12:30

Amap from a trade development commission or chamber of commerce can be more useful than google maps for identifying

Answers: 1

Answer

Business, 22.06.2019 18:00

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?

Answers: 1

Answer

Business, 22.06.2019 19:40

Anita has been named ceo of a popular sports apparel company. as ceo, she is tasked with setting the firm's corporate strategy. which of the following decisions is anita most likely to makea) whether to pursue a differentiation or cost leadership strategy b) which customer segments to target c) how to achieve the highest levels of customer satisfaction d) what range of products the firm should offer

Answers: 2

Answer

You know the right answer?

Shifty borrowed $10,000 from easy. when easy tried to collect the debt, she discovered that shifty h...

Questions