If the agent does not tell third parties that he or she is an agent, the principal is said to be ____________________
Fill in the blank(s) with correct word
undisclosed
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A six-year operating lease requires annual rent payments of $15,000 for years 1, 2, and 3, and annual rent payments of $10,000 for years 4, 5, and 6. The agreement also requires the lessor to pay a $2,800 annual insurance premium for the leased property. Which of the following amounts should be recognized as the rental revenue in year 1 by the lessor?
A) $10,000 B) $13,500 C) $15,000 D) $16,800
What criteria must be met for accepting any capital expenditure proposal with respect to minimum rate of return on investment?
_____ is a common method to manage expatriate compensation in which the organization continues to pay the individual at a rate equivalent to their home country salary.
A. Split-pay approach B. Localization approach C. Balance sheet approach D. Negotiation approach E. Equalization approach
Tracy and Lance, equal shareholders in Macaw Corporation, receive $600,000 each in distributions on December 31 of the current year. Macaw’s current-year taxable income is $1 million and it has no accumulated E & P. Last year, Macaw sold an appreciated asset for $1,200,000 (basis of $400,000). Payment for one-half of the sale of the asset was made this year. How much of Tracy’s distribution will be taxed as a dividend?
A. $0 B. $300,000 C. $500,000 D. $600,000 E. None of these.