Several years ago, Joy acquired a passive activity. Until 2018, the activity was profitable. Joy's at-risk amount at the beginning of 2018 was $250,000. The activity produced losses of $100,000 in 2018, $80,000 in 2019, and $90,000 in 2020. During the same period, no passive activity income was recognized. How much is suspended under the at-risk rules and the passive activity loss rules at the beginning of 2021

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

What is the second step in communication planning? determine the purpose of the message outline the communication for delivery determine the best channel of communication clarify objectives identify the audience

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.