In the current year, Joel has a passive activity loss of $15,000 from a limited partnership interest in XYZ, LP. He also has suspended losses from XYZ from prior years of $40,000. At the end of the current year, Joel sells his entire interest in XYZ at a $50,000 gain. What is the net effect of these items on his current year adjusted gross income g

What is the relationship between the national response framework and the national incident management system (nims)? a. the national response framework replaces the nims, which is now obsolete. b. the response protocols and structures described in the national response framework align with the nims, and all nims components support response. c. the nims relates to local, state, and territorial operations, whereas the nrf relates strictly to federal operations. d. the nims and the national response framework cover different aspects of incident management—the nims is focused on tactical planning, and the national response framework is focused on coordination.

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.