Dale Owns and Operates Dale's Emporium as a Sole Proprietorship

question 34

Multiple Choice

Dale owns and operates Dale's Emporium as a sole proprietorship.On January 30,1998,Dale's Emporium acquired a warehouse for $100,000.For regular income tax purposes in 2014,depreciation was deducted under MACRS using a rate of 2.564%.Determine the AMT adjustment for depreciation and indicate whether it is positive or negative.

• A)$64 negative adjustment.
• B)$64 positive adjustment.
• C)No adjustment is required because Dale's Emporium used the Alternative Depreciation System (ADS)to compute depreciation on the property for AMT purposes.
• D)No adjustment is required because Dale's Emporium used MACRS to compute the depreciation of the property for regular income tax purposes.
• E)None of these.

Distinguish between business and personal friendships within the context of sales.

Identify the core principles of professional selling and their impact on customer relations.

Understand the role of trust and mutual respect in developing long-term business relationships.

Recognize the importance of integrating social media and CRM systems in addressing post-sale service needs.

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Definitions:

Competitive Advantage

The conditions that allow a company or country to produce goods or services more effectively than competitors, leading to greater profits and market share.

JIT

Just-in-Time is a management strategy that aligns raw-material orders from suppliers directly with production schedules, aiming to reduce inventory costs.

Setup Costs

Setup Costs are the expenses incurred to prepare equipment, machinery, or systems for a manufacturing process or a batch of production.

Inventory

Represents the goods and materials that a business holds for the ultimate goal of resale, production, or utilization in manufacturing.