Sophi finds a chest inscribed "Captain Hook" that contains $500,000 of cash while fishing off the shore around New Orleans. The U.S. Customs and the DEA denied knowledge of the cash, so Sophi keeps it.
I.Sophi will not recognize any gross income if the chest contained jewels valued at $500,000 rather than cash at the time of discovery.II.Recognition is necessary because this is a treasure trove and it is comprised of cash.?
A. Only statement I is correct.
B. Only statement II is correct.
C. Both statements are correct.
D. None of the statements are correct.
Answer: C
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The execution of a will:
A. requires that the will be witnessed by two or three interested witnesses. B. must be published to be legal if the will is made orally. C. must strictly meet all the formalities required by state law, or it is void. D. does not have to be in writing to be used to pass on property in normal circumstances.
________ is a procedure for determining whether a set of objects can be ordered into an internally consistent, uni-dimensional scale
A) Magnitude estimation B) Q-sort scaling C) Guttman scaling D) None of the above
Michelman Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: Variable costs per unit: Direct materials$89Fixed costs per year: Direct labor$952,000Fixed manufacturing overhead$2,550,000Fixed selling and administrative expenses$992,000 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 34,000 units and sold 31,000 units. The company's only product is sold for $254 per unit.The company is considering using either super-variable costing or an absorption costing system that assigns $28 of direct labor cost and $75 of fixed manufacturing overhead to each unit that is produced. Which
of the following statements is true regarding the net operating income in the first year? A. Absorption costing net operating income exceeds super-variable costing net operating income by $225,000. B. Absorption costing net operating income exceeds super-variable costing net operating income by $309,000. C. Super-variable costing net operating income exceeds absorption costing net operating income by $309,000. D. Super-variable costing net operating income exceeds absorption costing net operating income by $225,000.
Which of the following is not a major component of a DSS?
A) dialog management B) inference engine C) data management D) model management