Under most intestate succession laws, a stepchild will not inherit unless legally adopted
Indicate whether the statement is true or false
True
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Omega Inc.'s net income is expected to be $600,000 and the firm's payout ratio is 60 percent. The firm's common stock ratio is 30 percent and it has no preferred stock outstanding. Which of the following is the retained earnings break point for Omega Inc.??
A. ?$400,000 B. ?$250,000 C. ?$375,000 D. ?$100,000 E. ?$800,000
Implied warranties can arise from a "usage of trade."
Indicate whether the statement is true or false
If the injured party can show he conferred a benefit on the defendant, he may be able to show a(n):
a. restitution Interest. b. expectation Interest. c. reliance Interest. d. equitable Interest.
Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's gross profit?
A) $18,000,000 B) $15,225,000 C) $5,000,110 D) $6,632,000