Hal Gore won a $1.5 million prize for special contributions to environmental research. This prize is awarded for public achievement, and Hal directed the awarding organization to transfer $517,500 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income? A. $517,500. B. $982,500. C. $1.5 million. D. None of the choices are correct because all prizes are excludible. E. None of the choices are correct because prizes from charities are excludible.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hal Gore won a $1.5 million prize for special contributions to environmental research. This prize is awarded for public achievement, and ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Describe voluntary exchanges
Answers (1)
Otool Inc. is considering using stocks of an old raw material in a special project. The special project would require all 150 kilograms of the raw material that are in stock and that originally cost the company $2,236 in total.
Answers (1)
During 2018, its first year of operations, Hollis Industries recorded sales of $10,600,000 and experienced returns of $720,000. Cost of goods sold totaled $6,360,000 (60% of sales). The company estimates that 8% of all sales will be returned.
Answers (1)
The Gini ratio is A. the area between the diagonal line and the Lorenz curve divided by the total area below the diagonal line. B. the area between the diagonal line and the Lorenz curve. C.
Answers (1)
What does increasing marginal opportunity costs? mean? a. increasing the production of a good requires larger and larger decreases in the production of another good. b. the economy is unable to produce increasing quantities of goods and services. c.
Answers (1)
New Questions in Business
What is an ineffective practice with regard to building trust within your department?
Answers (1)
Which of the following could be an ideal randomized controlled experiment to study the desired causal effect? A. Allow all students an extra day to study for the microeconomics exam.
Answers (1)
Does A Zebra Think Its Black On White or White On Black?
Answers (1)
Effective vision statements include a. financial objectives and projected figures. b. all strategic directions of the organization. c. strategic posturing and future objectives. d. a brief statement of the company's direction.
Answers (1)
True or false: people in business get ahead by meeting the needs of their consumers. as a result, both businesses and customers benefit from voluntary exchange.
Answers (1)