In 2020, Godfrey received a $50,000 sales commission on a long-term contract. But in 2021, the customer filed for bankruptcy and his employer was not able to collect from the customer. Under the bonus agreement, Godfrey was required to repay the employer $20,000 of the bonus. Godfrey was in the 35% marginal tax bracket in 2020 but he is in the 24% marginal tax bracket in 2021. a. Godfrey should not have reported the income in 2020 because of the contingencies.
b. Godfrey can amend his 2020 tax return and reduce his taxable income by $20,000.
c. Godfrey can reduce his 2021 tax liability by 35% × $20,000 = $7,000.
d. Godfrey should deduct the $20,000 paid in 2021 and thus his tax savings will be $4,800.

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes