In a Sec. 332 liquidation, can a subsidiary corporation recognize losses on distributions to either the parent corporation or minority shareholders?
What will be an ideal response?
No. Section 332 liquidations are an exception to the general rule that losses are recognized by the liquidating corporation. Losses are not recognized on distributions to either the parent corporation or the minority shareholders.
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Delaying the payment of accrued expenses until a later period is a technique that management can use to manipulate the current year's cash flow from operating activities.
Answer the following statement true (T) or false (F)
An internal locus of control means that ______.
a. leadership decisions are controlled from inside the body b. leadership decisions are controlled from inside the organization or work group c. leadership decision are made autocratically d. the things that happen to an individual in life are mostly due to his or her own actions and efforts
The database attributes that individual users have permission to access are defined in
a. operating system. b. user manual. c. database schema. d. user view. e. application listing.
Which of the following groups are considered to be internal users of accounting information?
A) Employees and customers B) Customers and vendors C) Employees and managers D) Government and banks