Ophra is a cash-basis taxpayer who is employed in the publishing industry. this year her employer informed her that because of her outstanding performance she is entitled to a free world cruise. ophra asked her employer to issue the cruise tickets to her parents, and he complied with this request. identify the principle that will determine whether ophra or her parents are taxed on the value of the cruise tickets. a. assignment of incomeb. constructive receiptc. return of captain principled. wherewithal to paye. all the above

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Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.