David Brown pays John Stone $50,000 in a non-competition contract not to open a pizza restaurant in
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Question:
David Brown pays John Stone $50,000 in a non-competition contract not to open a pizza restaurant in the same suburb as David's restaurant. He also pays John $5,000 to advertise his (David's) restaurant on his (John's) car.
How much income according to ordinary concepts is earned by John?
| a. | $5,000 | |
| b. | $0 | |
| c. | $50,000 | |
| d. | $55,000 |
Expert Answer:
Related Book For 
Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Susan V. Crosson, Belverd E. Needles
Posted Date:
