Ingol, Inc. was organized on June 1 and began business on September 13. Ingol elected a calendar year for tax purposes. The corporation incurred $60,300 of legal and other professional fees attributable to its formation. How much of these costs can Ingol deduct on its first tax return?
A. $6,229
B. -0-
C. $1,340
D. None of the above
Answer: C
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If 30 million transactions are made per year at $15 per transaction, what is the total transaction cost?
A) $450 million B) $200 million C) $2 billion D) $4.5 billion E) $900 million
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Clearwater Hampers is a small British company that sells luxury food and drinks in various combinations in picnic hampers. Food and wine are seen as classic, fail-safe gifts in a market where present-buying is increasingly tricky. Corporate customers, both in the United Kingdom and abroad, are important to the business as well as are a number of department stores. Clearwater has had several orders for more than a quarter of a million dollars and prides itself on how much repeat business it does. The company's leading salesperson, Peter Austin, is placed in charge of an important territory divided on the basis of geography and sales potential. He classifies his customers according to the size of their average orders.In preparing for his sales call allocation plans, Austin should consider
all of the following EXCEPT: A. time required for each sales call. B. return on time invested. C. cost of goods sold. D. non-selling time. E. frequency of sales calls.
A "substantial" market segment is one that is big enough to be profitable.
Answer the following statement true (T) or false (F)