Monty loaned his friend Ned $24,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remaining balance was $18,000, Ned filed for bankruptcy and notified Monty that he would be unable to pay the balance on the loan. Monty treated the $18,000 as a nonbusiness bad debt. Last year, before considering the tax implications of the nonbusiness bad debt, Monty had capital gains of $7,200 and taxable income of $42,000. During the current year, Ned paid Monty $16,200 in satisfaction of the debt. Determine Monty's tax treatment for the $16,200 received in the current year.
The nonbusiness bad debt of $18,000 would have been reported as a , and $ would be included in Monty's gross income.

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

From a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of management, organization, and technology elements. the organization's hierarchy, functional specialties, business processes, culture, and political interest groups are components of which element of information systems?

Suppose the marginal damage and marginal benefit curves in a polluted neighborhood are md = p/3 and mb = 4 – p. also, suppose that transactions costs are low, so that the consumers and the firm can bargain. we saw that in this case, the socially-optimal level of pollution is achieved. start by computing the socially-optimal p. then, for each of the following cases, compute the amount of money transferred through the bargaining process, and indicate who pays whom (i. e., whether consumers pay the firm, or vice versa). also, compute the gains to each party relative to the status quo (i. e., the starting point of the bargaining process).a)consumers have the right to clean air; firm is dominant in the bargaining process. b)consumers have the right to clean air; consumers are dominant in the bargaining process. c)firm has the right to pollute; firm is dominant in the bargaining process. d)firm has the right to pollute; consumers are dominant in the bargaining proces