A homeowner's monthly mortgage payment often includes or combines sums of money for payment of property taxes and casualty insurance with the sum for principal and interest on the mortgage
Indicate whether the statement is true or false
T
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Respondents using a non-comparative scale employ whatever rating standard seems appropriate to them
Indicate whether the statement is true or false
Presented below are the financial balances for the Boxwood Company and the Tranz Company as of December 31, 2017, immediately before Boxwood acquired Tranz. Also included are the fair values for Tranz Company's net assets at that date. Boxwood Tranz Co. Tranz Co.?(all amounts in thousands) Book value Book value Fair value 12/31/2017 12/31/2017 12/31/2017Cash$870 $240 $240 Receivables 660 600 600 Inventory 1,230 420 580 Land 1,800 260 250 Buildings (net) 1,800 540 650 Equipment (net) 660 380 400 Accounts payable (570) (240) (240)Accrued expenses (270) (60) (60)Long-term liabilities (2,700) (1,020) (1,120)Common stock ($20 par) (1,980) Common stock ($5
par) (420) Additional paid-in capital (210) (180) Retained earnings (1,170) (480) Revenues (2,880) (660) Expenses 2,760 620 ??Note: Parenthesis indicate a credit balance??Assume a business combination took place at December 31, 2017. Boxwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Tranz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid to effect this acquisition transaction. To settle a difference of opinion regarding Tranz's fair value, Boxwood promises to pay an additional $5.2 (in thousands) to the former owners if Tranz's earnings exceed a certain sum during the next year. Given the probability of the required contingency payment and utilizing a 4% discount rate, the expected present value of the contingency is $5 (in thousands).?Compute consolidated retained earnings as a result of this acquisition. A. $1,170. B. $1,280. C. $1,160. D. $1,265. E. $1,650.
Intellectual skill as a learning outcome primarily includes the capability to ________.
A. state or describe previously stored information B. execute a physical action with precision and timing C. choose a personal course of action D. apply generalizable concepts and rules to solve complex problems
An increase in which of the following would not decrease your taxable income?
A) Federal taxes withheld from wages B) State and local taxes withheld from wages C) Personal dependency exemptions and personal deductions D) Adjustments to gross income