Pardeep uses his own vehicle for his sole proprietorship. He borrowed money to purchase the vehicle in 2019 . The interest he paid on the amount owing for 2021 was $5,700. He drove the vehicle a total of 10,000 km of which 10,000 km were related to employment. How much can he deduct in 2021 ? From the Act, you can deduct $300 a month for interest expense A) $4,400 B) $3,600 C) $4,104 D) $2,592

Answers

Answer 1

His interest expense is greater than the maximum allowable deduction, he can claim the full amount of $5,700 as a deductible expense.

Therefore, the answer is: A) $4,400.

To calculate the deductible interest expense for Pardeep's vehicle, we need to determine the portion of his vehicle expenses that are related to employment use. Since he drove 10,000 km out of a total of 10,000 km for employment purposes, 100% of his vehicle expenses can be considered business-related.

The interest paid on the amount owing for 2021 was $5,700, and he can deduct $300 per month for interest expense. Therefore, the maximum allowable deduction for the year is:

$300 x 12 = $3,600

Since his interest expense is greater than the maximum allowable deduction, he can claim the full amount of $5,700 as a deductible expense.

Therefore, the answer is: A) $4,400.

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Related Questions

in order to deal with a budget deficit, the city of portland reduces its subsidy of doughnut shops. what happens in the market for doughnuts in portland?

Answers

In order to deal with a budget deficit, the city of Portland reduces its subsidy of doughnut shops. As a result, the market for doughnuts in Portland will see a decrease in supply and an increase in price.

In the case of Portland, the city's subsidy of doughnut shops is being reduced in order to deal with the budget deficit.

The reduction in the subsidy for doughnut shops will result in a decrease in supply. This is because the shops will have less money to spend on ingredients, equipment, and other costs associated with producing and selling doughnuts. As a result, the supply curve for doughnuts in Portland will shift to the left.

The decrease in supply will cause the equilibrium price of doughnuts to increase. This is because there will be fewer doughnuts available in the market, and consumers will be willing to pay more to obtain them.

In economics, a budget deficit refers to a situation in which a government, business, or individual spends more money than they receive in income. As a result, in order to meet their financial obligations, they must borrow money.

A subsidy is a payment made by the government to an individual or organization in order to encourage them to take a certain action or produce a particular good.

Thus, the market for doughnuts in Portland will see a decrease in supply and an increase in price.

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How can a company hide 2000$ of debts in a double entry journal accounting….. using debits and credits

Answers

Double entry is an accounting term stating that every financial transaction has equal and opposite effects in at least two different accounts.

if you are your own boss, you are responsible for paying your own wages/salary and for your owna. true
b. false

Answers

The statement is true. When you are your own boss, you are responsible for paying yourself a salary or wage.

What does it entail?

As a self-employed individual, you do not have an employer to provide a consistent paycheck. Instead, you must generate income through your own business activities and pay yourself accordingly.

This means that you must manage your finances carefully to ensure that you have enough money to cover your personal expenses and your business expenses.

You are also responsible for paying taxes and contributing to your own retirement savings. Being your own boss can be a rewarding experience, but it requires a significant amount of financial responsibility and discipline.

Hence, its true.

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pleaaaaase help giving brainliest
Use the table to determine how many workers the firm will employ when the cost per good is $6, and the wage rate
is $25

A 3 workers
B 5 workers
C 2 workers
D 4 workers

pleaaaaase help giving brainliest Use the table to determine how many workers the firm will employ when

Answers

The firm will employ 3 workers

Marginal cost is the change in total cost as a result of hiring one more unit of labour. The marginal cost of labour is equal to the wage rate.

Marginal revenue is the change in total revenue when output is increased by one unit

A rational producer would continue to higher labour as long as marginal revenue is higher or equal to marginal cost. If marginal revenue is less than marginal cost it means that productivity has fallen.

Looking at the marginal revenue and marginal cost on the table, marginal revenue is greater than marginal cost when 1,2 and 3 units of workers are used. But the number of workers that yields the highest product is 3 workers. So, 3 workers should be employed.

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Answer:

A 3 workers

Explanation:

1. Which of the following is INCORRECT?
Assets
Liabilities
Capital
$
$
$
i
ü.
18,270
9,340
15,160
12,230
5,290
3,120
6,380
1,390
12,980
6,220
7,780
10,840
111.
iv.

Answers

Answer:

HINDI KO PO GETPASYENSYA NA POKUNG SAAN UMAASA KAYO SASAGOT KO.

In what three ways does the government affect production of goods and services in the US economy?

Answers

Government activity affects the economy in four ways: The government produces goods and services, including roads and national defense. Less than half of federal spending is devoted to the production of goods and services

how do contact lists differ from an address book?

Answers

Answer:

Contact lists contain more information about a person than an address book.

~faith

Explanation:

Hope you have a great day :)

HELP
Based on this module, what are three things you can do to reduce the risk of financial loss for you and your loved ones?

Answers

Answer:

You can sign contracts, wills, and buy into insurance policies

People can sign contracts, wills, and buy into insurance policies are three things you can do to reduce the risk of financial loss for you and your loved ones.

What is insurance policies?

The insurance firm (the insurer) and the person(s), company, or other entity being covered have a legal agreement called an insurance policy (the insured). By reading your policy, you can make sure that it addresses your needs and that both you and the insurance provider are aware of your obligations in the event of a loss.

Everyone should have five different types of insurance: home or property insurance, life insurance, disability insurance, health insurance, and automobile insurance.

Information about the policy, including the premium, number, and term. List of covered individuals and their assets. The financial caps on your insurance coverages and the related deductibles.

Thus, People can sign contracts, wills, and buy into insurance policies.

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On January 1, 20X1, Brecon Co. installed cabinets to display its merchandise in customers' stores. Brecon expects to use these cabinets for five years. Brecon's 20X1 multi-step income statement should include

Answers

Answer:

One fifth of the cabinet costs in selling expenses.

Explanation:

Here brecon will account for a fraction of the cost of the cabinet in its selling expenses each year for the period used, five years. This is because the cabinet is seen as a selling expense here. The apportioned cabinet expense for the year will therefore appear under operating expenses in the multi step income statement

How much tim e will be needed for 525,000 to grow to $28.162.31 if deposited at
6% compounded quarterty?

Answers

It will take approximately 30.63 years for $525,000 to grow to $28,162.31 if deposited at a 6% interest rate compounded quarterly.

To calculate the time required for the initial amount to grow to the desired amount, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:

A = Final amount ($28,162.31)

P = Principal amount ($525,000)

r = Annual interest rate (6% or 0.06)

n = Number of times interest is compounded per year (quarterly, so 4)

t = Time in years (unknown)

Rearranging the formula to solve for t, we have:

t = (log(A/P))/(n * log(1 + r/n))

Plugging in the values, we get:

t = (log(28,162.31/525,000))/(4 * log(1 + 0.06/4))

t ≈ 30.63 years

Therefore, it will take approximately 30.63 years for the initial deposit of $525,000 to grow to $28,162.31 at a 6% interest rate compounded quarterly.

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assuming you had dinner at Tuscan grille in newburyport your bill is 100 how much tax is added to the bill and what portion of the tax collected goes where​

Answers

Answer:

Tax Value = 107.5 - 100 = 7.5

i'm not sure about the last portion

Harvey Automobiles uses a standard part in the manufacture of several of its trucks. The cost of producing parts is ​, which includes fixed costs of and variable costs of . The company can buy the part from an outside supplier for per​ unit, and avoid​ 30% of the fixed costs. Assume that factory space freed up by purchasing the part from an outside source can be used to manufacture another product that can be sold for ​$ profit. If Harvey Automobiles makes the​ part, what will its operating income​ be?

Answers

Answer:

$26000 greater than if the company bought the part

Explanation:

The computation of the operating income in case of the making part is shown below:

In making 40,000 parts

The relevant cost is $60,000

In the case when the product is buyed from outsider

Purchase costs   ($3 × 40,000)   $120,000

Less - avoidable fixed cost ($70,000 × 30%)  ($21,000

Less; profit from the sale of another product ($13,000 )

Relevant cost to buy  $86,000

Now the difference of cost is

= $86,000 - $60,000

= $26,000

How responsible should sport/event organizations, celebrities, and athletes be for keeping their various publics happy? We know that good publicity boosts goodwill and profits. But, should individuals have to keep their personal beliefs private so they won’t offend anyone? For example, some musicians may highlight their political views on stage at their concerts. Or, an athlete may make comments in an interview that could offend certain groups. Perhaps he’s an avid hunter, a hobby that some animal rights activists would certainly not support. What do you think? Where should celebrities and athletes draw the line between building fan support and being true to themselves?

Answers

Answer:

I dont really know

Explanation:

According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain equal?

Answers

Answer:

According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.

Explanation:

The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.

Answer:

The wage rate for that job will be pushed down.

Explanation: I just took the test and got it right

after a sudden death of producer m, his business partner, who is not a licensed producer, finds another producer who is willing to continue servicing the policies of m's clients. this agreement can last no longer than

Answers

When a sudden death of a producer M occurs, his business partner who is not a licensed producer finds another producer willing to continue servicing the policies of M's clients, this agreement can last no longer than "one year".

In a case where after a sudden death of producer M, his business partner, who is not a licensed producer, finds another producer who is willing to continue servicing the policies of M's clients, the agreement can last no longer than one year. This is usually governed by a succession plan that is laid out by the producer who is licensed, and it may be formal or informal.

Informal succession plans may exist when the producer has taken steps to ensure that a business partner or key employee can step in if they are no longer able to perform their duties, as in the case of M's sudden death.

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Manufacturing machinery must be maintained to continue working. Who is responsible for this?

Industrial machinery mechanics
Line assemblers
Manufacturing engineers
Product inspectors

Answers

Answer: Industrial machinery mechanics

Explanation: took exam and got 100

Answer:

A

Explanation:

What are customer needs?

Answers

Answer:

A customer need is a need that motivates a customer to purchase a product or service. 

How do taxes influence responsible financial planning?

Answers

Answer:

Proper tax planning makes it easier to build your personal finances and afford the things you want. Additionally, by anticipating taxes when you create your financial plan, it's possible to significantly boost how much money you will have in retirement.

Explanation:

Elle is in high school and wants to have job until she graduates. Which job would she be most qualified for until she graduates high school?
O Purchasing Agent
O Cashier
O Sales Agent
O Interviewer

Answers

I think it’s cashier

First of all we should understand the nature of job of Purchasing Agent, Cashier, Sales Agent and an Interviewer to decide which option should Elle would be most qualified for until she graduates high school.

Who is a Purchasing Agent?

The persons who buy the parts and materials that help in the production of goods are called purchasing agents or purchasers.

Buyers and purchasing agents review the history and quality of the suppliers before making the purchase. They should be qualified enough to consider price, quality, availability, reliability, and technical support when choosing suppliers and merchandise.

Who is a Cashier?

A cashier is a person who handles the cash register at various locations such as the point of sale in places such as shops or banks.

He is also known as teller, accountant, clerk, treasurer. Only qualified and skilled persons can perform the role of cashier.

Who is a Sales Agent?

A person hired by any company to sell its products or services is known as Sales agent.

A sales agent take orders, offer services and provide support in person and via telephone or internet. This job can be done with little training and less qualification.

Who is an Interviewer?

A person who conducts an interview to hire the candidates is known as Interviewer. To be an interviewer, a person needs to be well qualified with great communication skills.

So, the best role that Elle can take up until she graduates is that of a Sales Agent.

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Alia Valbuena earns 68,400 per year as an automotive engineer. What is her monthly salary ? What is her weekly salary ?

Answers

The answers would be obtained using the following simple formulas (not taking tax into account):

Monthly: 68,400/12
Weekly: 68,400/52

The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year is:.

Answers

The record of accrued vacation privileges in Journal entry will includes a Debit of Cash& Interest Expense and Credit of Notes Payable

What is a Journal entry?

The Journal entry helps to record all basic financial transaction.

In conclusion, the record of accrued vacation privileges in Journal entry will includes a Debit of Cash& Interest Expense and Credit of Notes Payable

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When it comes to investing, what is the best approach to very optimistic and big news about a new company? (5 points)
a
Invest right away; trust the news.
Caution; research the company first.
O Invest a large amount through a financial advisor.
Contact the company to obtain information.

Answers

Answer:

caution research company first

Explanation:

safest option

When a sale is recorded on an Invoice, Quickbook records a:
Debit (increase) to cash
Credit (increase) to owners contribution
Debit (Increase) to accounts receivable
Credit (increase) to accounts payable.
To enter a sales transaction with payment to be received later:
From the navigation Bar, Select vendors
From the navigation bar, select expenses
From the Create (+) icon, select invoice
From the Gear Icon, Select sales transactions
When a customer pays cash at the time of sale, what do you record?
A sales receipt
An invoice
A purchase order
A thank you note
When a customer purchases products or services but does not pay at the point of sale, what do you record?
A sales receipt
An invoice
A purchase order
A reminder
We can update the customers list at which of the following two points?
Before entering transactions
While entering transactions
After entering transactions
Which of the following two are Customers and Sales transactions?
Invoice
Receive payment
Pay bills
Check
Types of products and services on the products and services list include which of the following?
Service
Batch
Inventory
All of the above
Which of the following products and service types track quantities?
Service items
Inventory items
Non-inventory items
None of the above
When preparing a sales receipt if we select deposit to undeposited funds, then we must:
Create a bank deposit to move the customer payment from undeposited funds to the checking account.
No further action is required
Create a second sales receipt depositing the amount to the checking account
Create a subsequent invoice depositing the amount to the checking account.
When preparing a sales receipt, if we select deposit to a checking account then we:
Create a bank deposit to move the customer payment from the checking account to the undeposited Funds account.
No further action is required
Create a second sales receipt depositing the amount to the checking account.
Create a subsequent invoice depositing the amount to the checking account.
Indicate the order in which the following onscreen customers and sales transaction forms typically should be prepared:
Invoice+ bank deposit+ receive payment
Invoice+ Sales receipt+ Bank deposit
Invoice+ receive payment+ bank deposit
None of the above
Which of the following reports provides information about which customers owe money to a business?
Profit & loss
Balance sheet
Statement of cash flows
Accounts receivable aging
Accounts receivable are:
Amounts totaling the net worth of a company.
Amounts paid to owners
Amounts that customers owe your business
Amounts owed to others and are future obligations.

Answers

The correct order for onscreen customers and sales transaction forms is Invoice, receive payment, and bank deposit. The Accounts Receivable Aging report provides information about which customers owe money to a business. Accounts receivable are amounts that customers owe your business.

When a sale is recorded on an Invoice, Quickbook records a Debit (increase) to accounts receivable and a Credit (increase) to sales. When a customer pays cash at the time of sale, you would record a sales receipt. When a customer purchases products or services but does not pay at the point of sale, you would record an invoice. The customer list can be updated at any point, including before, while, or after entering transactions. Invoice and receive payment are both Customer and Sales transactions. Types of products and services on the products and services list include Service, Batch, and Inventory. Inventory items track quantities. When preparing a sales receipt, if you select deposit to undeposited funds, you must create a bank deposit to move the customer payment from undeposited funds to the checking account. When preparing a sales receipt, if you select deposit to a checking account, you do not need to take any further action. The typical order for onscreen customers and sales transaction forms is an Invoice, Sales Receipt, or Bank deposit. The Accounts receivable aging report provides information about which customers owe money to a business. Accounts receivable are amounts that customers owe your business.

When a sale is recorded on an Invoice, QuickBooks records a Debit (Increase) to accounts receivable and a Credit (increase) to owners' contribution. To enter a sales transaction with payment to be received later, you should use the Create (+) icon and select Invoice. When a customer pays cash at the time of sale, you record a Sales Receipt. When a customer purchases products or services but does not pay at the point of sale, you record an Invoice.

You can update the customer list before entering transactions and while entering transactions. Invoice and Receive payment are Customer and Sales transactions. Types of products and services on the list include Service, Inventory, and Batch. Inventory items are the ones that track quantities.

When preparing a sales receipt and selecting deposit to undeposited funds, you must create a bank deposit to move the customer payment from undeposited funds to the checking account. When preparing a sales receipt and selecting deposit to a checking account, no further action is required.

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the schuler insurance company processed 60,000 claims in march. it takes an average of 6 hours to process each claim. the company incurred $240,000 of labor and $840,000 of overhead costs during march. what was the cost to process each claim?

Answers

The schuler insurance company processed 60,000 claims in march. The cost to process each claim was $24 ($240,000 of labor / 60,000 claims + $840,000 of overhead / 60,000 claims = $24).

What do you know about insurance company?

An insurance company is a financial institution that specializes in providing insurance products and services to individuals and businesses. It provides financial protection against unexpected loss or damage to assets, and can help protect against financial losses caused by illness, accident, or death. Insurance companies also help customers manage risks by providing advice on how to reduce potential losses, and they often provide additional services such as investment management and estate planning. Insurance companies are heavily regulated by the government, and they must adhere to strict regulations to ensure customer protection.

So, The cost to process each claim was $24.

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help me pleaseeeeee its confusing i will give 100 due to brainliest

help me pleaseeeeee its confusing i will give 100 due to brainliest

Answers

Answer:

unfortunately I am not available for a new role at this point but would like the following to be a quick update as I have now set the following email address for you to send me the information you needed for my application and the application forms and I want to make the necessary for photosynthesis to the sender if they have been accepted by me

NEED HELP
Employees usually have options for how they will be paid. Most employers offer either a
BLANK or BLANK
, but there are also cases where employees are paid in BLANK

Answers

Direct Deposit, Payroll card, or by Warrants (checks).

Hope this helps! :)

Which of the following has become important due to the increasing fragmentation of television viewers who have ever-expanding viewing options and technology that can screen advertisements?
a. advertising
b. personal selling
c. public relations
d. sales promotion
e. product placement
E. product placement

Answers

Product placement has become important due to the increasing fragmentation of television viewers who have ever-expanding viewing options and technology that can screen advertisements.

Companies use product placement as a marketing strategy by collaborating with other brands and production houses. They pursue a covert kind of promotion by subtly including their goods in films, television programs, retail establishments, and other media. Discover more about product placement and the business uses for it.

This positioning of branded goods or services is frequently seen in entertainment, namely in movies or television. Consider the movies you've watched as media examples. It is product placement if the principal actor is holding a plainly marked Coca-Cola beverage or using a clearly marked Samsung cell phone.

Hence the correct option is E

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What are the economic goals of a ancient command economy?

Answers

These ancient command economies' main objective was to amass wealth and goods for the ruling class while maintaining stability in the economy. The numerous monuments that these societies have left behind serve as evidence of both their societies'.

Strong economy and the excesses of their kings. A command economy is designed to help the government achieve its economic objectives. These objectives may include maintaining full employment, limiting inflation, or fostering particular businesses. Thus, boosting economic output is not always the goal of goods command economy. Market economies often support economic liberty, effectiveness, and expansion (with full employment being a desirable side effect of these choices).

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What effect will each of the following have on the supply of auto tires? A. A technological advancement in the method of producing tires? B. A decline in the number of firms in the entire industry. C. An increase in the prices of rubber used in the production of tires. D. The expectation that the equilibrium price of auto tires will be lower in the future than currently.

Answers

The supply of vehicle tires is increased by technological developments and anticipation of reduced future pricing, while the supply is decreased by a fall in the number of enterprises and an increase in input costs.

A. A technical breakthrough in the way of making tires would boost the supply of motor tires. This is so that there will be greater output at all price points as a result of the new manufacturing method's higher efficiency and reduced production costs.

B. The availability of vehicle tires will diminish as the total number of companies in the sector declines. There will be less output on the market as fewer companies produce tires, which will result in a reduction in the overall supply.

C. An ascent in the expense of the elastic used to make tires will bring about a decrease in the stock of vehicle tires. This is so that fewer results will be created at each cost level because of the greater creation costs brought about by the higher info costs.

D. The supply of vehicle tires will grow if it is anticipated that the equilibrium price of tires will decrease from its current level in the future. Because businesses will produce more now in anticipation of future price reductions, there will be more vehicle tires available overall.

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What is the opportunity cost of increasing the number of televisions produced by 4, moving from point B to point C?

Answers

The opportunity cost of moving from point B to point C is the 2 units of butter that are given up to gain 1 additional gun.

What is opportunity cost?

Opportunity cost is an economic term for expressing cost in terms of foregone alternative. It is something needs to be given up in order to procure something else.

If the production chart is moved from A too B, there will be a decrease in the production.

The opportunity cost by shifting the lines is giving up the items and decreasing what is actually being produced. The decrease results in an opportunity cost - which is what you give up to gain something else.

Therefore, the opportunity cost of moving from point B to point C is the 2 units of butter that are given up to gain 1 additional gun.

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what is the charge on a calcium (Ca) atom that contains 18e? What is the difference in unit price between a 5 gallon bucket of paint for $97.45 and a 1 gallon bucket of paint for $21.95? we can understand the importance of studying human communication by realizing that it is:________ Consider the market for french fries that has standard demand and supply curves and starts in equilibrium. Which of the following policies would cause a decrease in the price of french fries paid by consumers? A binding price floor is imposed on french fries A binding price ceiling is imposed on french fries A binding quota is imposed on the sale of french fries None of the above would cause a decreases in the price Question 2 (1 point) Consider the market for french fries that starts in equilibrium. Which of the following policies would cause a decrease in the quantity of french fries bought and sold? A binding price floor is imposed on french fries A binding price ceiling is imposed on french fries A binding quota is imposed on the sale of french fries All of the above would cause a decrease in the quantity bought and sold what makes the sail shiver I WILL GIVE UTHE BRAINLEST!!!!!I WILL GIVE U THE BRAINLEST!!!!!If a circle has a diameter of 3 cm, what is the circumference? Enter a numerical valueonly. Round all answers to the nearest hundredth. Select the verb(s) in the sentence.Denise ate pancakes and eggs for breakfast Nguyen Inc. is considering the purchase of a new computer system (ICX) for $130,000. The system will required an additional $30,000 for installation. If the new computer is purchased, it will replace an old system that has been fully depreciated. The new system will be depreciated over a period of 10 years using straight-line depreciation. If the ICX is purchased, the old system will be sold for $20,000. The ICX system, which has a useful life of 10 years, is expected to increase revenues by $32,000 per year over its useful life. Operating costs are expected to decrease by $2,000 per year over the life of the system. The firm is taxed at a 40 percent marginal rate. A. What net investment is required to acquire the ICX system and replace the old system? B. Compute the annual net cash flows associated with the purchase of the ICX system. indicate whether each integer n is even or odd. if n is even, show that n equals 2k, for some integer k. if n is odd, show that n equals 2k 1, for some integer k. An acute isosceles triangle has an angle that measures 80 degrees which is located across from the longestmeasures 64 units. A student states that she can determine the measures of the other two angles in the triangle. What is the measure ofone of the angles? Give the measure of one angle (since they are the same degree). Please Show Work and Be Done Soon!! Would a baby elephant be more likely to look like its parent or to look like one of its great-great-great-grandparents?Explain your reasoning. According to the quantity equation, whenever the supply of money is growing at a positive rate, if real income is constant, then the price level:A. is growing at the same rate as the growth of the supply of money.B. is decreasing.C. is constant.D. grows at a lower rate than the growth of the supply of money. aisha wrapped some presents that weighed 5 2/3 kg altogether. Each present weighed 1/3 kg how many presents did aisha wrap? a nurse is researching for the most current information to share with a client the recommended course of action to handle their psoriasis. which database should the nurse prioritize in the search? Suppose that is in standard position and the given point is on the terminal side of 0. Give the exact value of the indicated trig function for 0. 15) (-5, 12); Find sin How tall is a stack of 12 of these boxes? What is primavera in English? Career Success: Job ApplicationsSuccess: Job ApplicationsCarla is going to businesses to ask for job applications in person. How does the presentation suggest she dress?NormallyFormallyCasuallyProfessionally What is a synthetic drug?