Darius and Chantal Own a Cabin in Lake Arrowhead,California

question 41

Multiple Choice

Darius and Chantal own a cabin in Lake Arrowhead,California.During the year,they rented it for 45 days for $10,000 and used it for 12 days for personal use.The house remained vacant for the remainder of the year.The expenses for the house included $9,000 in mortgage interest,$2,000 in property taxes,$1,000 in utilities,$600 in maintenance,and $3,000 in depreciation.What is their net income or loss from their cabin (without considering the passive loss limitation) ? Use the IRS method for allocation of expenses.(Round your answer to the nearest whole dollar. )

• A)$0
• B)$2,316 net loss
• C)$5,600 net loss
• D)$10,000 net income

Identify the acute adverse effects of hazardous substance exposure and appropriate responses.

Implement effective communication and intervention strategies in scenarios involving distressed or potentially violent patients.

Understand weather-related safety information and preventive measures.

Gain knowledge about the risks and prevention strategies of carbon monoxide poisoning.

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Definitions:

Profit Margins

A financial metric that assesses the percentage of profit made from sales after all expenses have been deducted.

Return on Investment

A measure of the profitability of an investment, calculated by dividing the net gains from the investment by its cost.

Investment Turnover

A ratio measuring how efficiently a company generates sales from its inventory investments.

Profit Margin

A financial metric expressing the percentage of revenue that remains as profit after all operating expenses are deducted.