The Robinson-Patman Act is also called the Advertising Act.
Answer the following statement true (T) or false (F)
False
The Wheeler-Lea Act of 1938 is also called the Advertising Act. Its passage broadened the Federal Trade Commission's powers to include protecting consumers from false advertising practices.
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How much of the acquisition differential was allocated to patents?
P Corp. owns 800 voting common shares out of Q Corp.'s 1,000 outstanding voting common shares, which it accounts for using the equity method. On December 31, 2018, the shareholder's equity section of Q Corp. was comprised of $15,000 in common shares and retained earnings with the amount of $450,000. Q Corp. reported net Income and paid dividends of $120,000 and $20,000 respectively for the year ended December 31, 2019. On January 1, 2020, P Corp. sold 200 shares of its investment in Q Corp. for $125,000. On January 1, 2019, the investment account had a balance of $420,000. The acquisition differential was to be allocated as follows: 60% to patents (6 year remaining life). 30% to equipment (9 year remaining life). A) Nil. B) $6,000. C) $18,000. D) $36,000.
Sanjay is single and has taxable income of $23,000 without considering the sale of a capital asset in November of 2019 for $15,000. That asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the capital gain is
A. $0. B. $1,500. C. $500. D. $1,200.
When a fixed income security is being traded at the price above its face value it is trading
a. At a discount. b. At par. c. At a premium. d. Flat. e. No accrual.
Why should health insurance planning be included in your personal financial plan?