Many insurers sometimes use loss adjusters who are not employees of the company
Indicate whether the statement is true or false
TRUE
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A potential business owner needs to convey his or her business idea to a prospective investor or lender in ________ minutes.
A. 10 B. 5 C. 2 D. 12
Which of the following is an example of a contract contrary to statutes by its very existence?
A) a usurious loan contract B) a contract between two minors C) a contract where one party is insane but not adjudged insane D) a contract of adhesion
Fabiola, Gabriella, or any foreign citizen, can bring a civil suit in a U.S. court
A. for a violation of a treaty of the United States only. B. for a violation of a treaty of the United States or the law of nations. C. for a violation of the law of nations only. D. under no circumstances.
On January 1, 20X9, Paradox Company acquired all of Sirius Company's common shares, for $365,000 cash. On that date, Sirius's balance sheet appeared as follows: Assets Liabilities Cash and Receivables$50,000 Current Payables$30,000 Inventory 80,000 Notes Payable 50,000 Land 50,000 Stockholders' Equity Buildings and Equipment(net) 200,000 Common Stock 100,000 Additional Capital 150,000 Retained Earnings 50,000 Total$380,000 Total$380,000 The fair values of all of Sirius's assets and liabilities were equal to their book values except for inventory that had a fair value of $85,000, land that had a fair value of $60,000, and buildings and equipment that had a fair value of $250,000. Buildings and equipment have a remaining useful life of 10 years with
zero salvage value. Paradox Company decided to employ push-down accounting for the acquisition. Subsequent to the combination, Sirius continued to operate as a separate company.Based on the preceding information, what amount of differential will arise in the consolidation process? A. $15,000 B. $0 C. $65,000 D. $5,000