Unearned revenue arises from the acceptance of payment in advance for a service to be performed
Indicate whether the statement is true or false
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Seiko makes watches. It markets its higher quality watches under the Seiko or LaSalle brand name and its lower-priced watches are sold under the Pulsar brand. Seiko uses a ________ strategy.
A. product differentiation branding B. multibranding C. segmentation branding D. private branding E. multiproduct branding
If x2 = 4, n = 20, k1 = 5 and k1 = 7, what is the value of Cramer’s V?
a. 0.05 b. 0.26 c. 5 d. none of the above
Which test is done to check for existence of data items in all fields of a record?
A) Self-Checking Digits B) Missing Data C) Templates D) Expected Values
Elaine owns equipment ($23,000 basis and $15,000 FMV) and a building ($136,000 basis and $148,000 FMV), which are used in her business. Elaine uses straight-line depreciation for both assets, which were acquired several years ago. Both the equipment and the building are destroyed in a fire, and Elaine collects insurance proceeds equal to the assets' FMV.
a. What is the tax treatment of these two transactions? b. Assume that Elaine is only able to collect $3,000 from the insurance company for the equipment loss. What is the tax treatment of the two transactions (assume the basis and insurance reimbursement remain the same for the building).