On April 1, Griffith Publishing Company received $1,548 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, What is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year?
A) debit Unearned Fees, $1,548; credit Fees Earned, $1,548.
B) debit Unearned Fees, $516; credit Fees Earned, $516.
C) debit Unearned Fees, $1,161; credit Fees Earned, $1,161.
D) debit Unearned Fees, $129; credit Fees Earned, $129.
E) debit Unearned Fees, $387; credit Fees Earned, $387.
E) debit Unearned Fees, $387; credit Fees Earned, $387.
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________ distinguishes groups and teams.
A. The presence of a formally appointed leader B. Size (groups are typically limited in size) C. Scope of activities D. Depth of commitment
Globalization of markets requires developing marketing strategies as if the world were one market. Which of the following marketing mix variables is most difficult to standardize for globalization?
A. Brand name B. Package C. Media allocation D. Labels E. Product characteristics
Under the terms of their divorce agreement executed in August of this year, Clint transferred Beta, Inc. stock to his former wife, Rosa, as a property settlement. At the time of the transfer, the stock had a basis to Clint of $55,000 and a fair market value of $68,000. Rosa subsequently sold the stock for $75,000. What is the tax consequence of first the stock transfer and then the stock sale to Rosa?
A.
| Rosa's Income From Stock Transfer | Rosa's Income From Stock Sale |
| $0 | $7,000 capital gain |
B.
| Rosa's Income From Stock Transfer | Rosa's Income From Stock Sale |
| $13,000 | $7,000 capital gain |
C.
| Rosa's Income From Stock Transfer | Rosa's Income From Stock Sale |
| $13,000 | $20,000 capital gain |
D.
| Rosa's Income From Stock Transfer | Rosa's Income From Stock Sale |
| $0 | $20,000 capital gain |
Which of the following is true of the liabilities of a franchisor and a franchisee?
A. The franchisor is not liable for any tort arising out of the franchise. B. Both franchisee and franchisor are jointly liable for torts committed by either. C. Franchisees are only liable on their own contracts. D. Franchisors are always liable for the torts of the franchisees.