Answer:
correct option is C. $250,000
Explanation:
given data
sold the home and gain = $300,000
to find out
amount of the gain allowed to exclude from gross income
solution
we know that Michael owned the property for the 10 years
so here Michael is not allowed to exclude the gain = 10 % that is $30,000
and The maximum gain exclusion permitted = $250000
so here Michael will recognize $50,000 because amount exceed $250,000 for a single taxpayer and exclusion of gain on sales of property tax payer need to own and occupy the property as principle residence for the 2 out of 5 year immediately preceding the sales
so here correct option is C. $250,000
Answer:
A) True
Explanation:
Monumental can discharge the contract by frustration. In order for a contract to be discharged by frustration, four conditions have to occur:
- An unforeseeable event must occur: In this case the zoning changes were unforeseeable.
-
No party is at fault: the zoning board made the changes to the zoning of the land.
- Performance is impossible: there is no reason why an office building should be built in a residential only area.
- The result is radically different than expected: neither Monumental or Champion Builders expected a zoning change to occur.
individuals that have special voting rights owns a special class of stock called classified stock.
The classified stock refers to class of common stock that comes with special privileges like dividend rights or enhanced voting rights.
Usually, these stock are issued/owned by individual that started or co-start the business.
The classified stock is used to ensure the company's founders maintain its control over the establish company even without owning the majority of the common stock.
Therefore, the individuals that have special voting rights owns a special class of stock called the classified stock.
Read more about classified stock:
<em>brainly.com/question/23881482</em>
Answer:
c. Individualism
Explanation:
Individualism -
It refers to the type of inclination toward an individual in terms of social, or ideology outlook , political philosophy and moral stance , is referred to as individualism .
These type of people lives by only one type of goal and desire .
And , these people tends to divert their mind towards their family and children rather than the society .
Hence, from the given statement of the question,
The correct term is individualism.
Answer: unilateral contract
Explanation:
An unilateral contract is a contact that is formed when an individual offers to do a particular thing in return for either money or something else that was agreed on.
Once such individual does that thing, he or she has to be given what was agreed on in the contract. A typical example is the contact regarding an insurance policy.
Therefore, an offer that can only be accepted by an offere's performance will create a unilateral contact.
