Interest is not imputed on a gift loan between two individuals totaling $100,000 except when the borrowed funds are used to purchase income-producing property.
Answer the following statement true (T) or false (F)
False
The use of the funds does not determine the necessity to impute interest; however, the imputed interest is limited to net investment income.
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While methods like high-low slope, average slope, handshaking, and Box-Jenkins exist, one of the most popular techniques for summarizing the slope of a graph is _______
a. summarization b. stratification c. statistical regression. d. arithmetic progression
The 80/20 principle:
A. refers to the fact that eighty salespeople require twenty sales managers to keep the appropriate 1-to-4 ratio of supervisors to employees. B. is a territorial management concept that favors a salesperson putting 80 percent of her time on action and 20 percent on planning. C. refers to the idea that 20 percent of a firm's customers account for 80 percent of a firm's profitability. D. indicates that no matter how hard a salesperson tries, 80 percent of the customer's potential business ends up going to competitors. E. is a territorial management concept that favors a salesperson putting 80 percent of his time on planning and 20 percent on action.
The following information was obtained from the financial statements of Dow Corp (in millions): Calculate the inventory turnover in days for the Dow Corp
a. 81.1 b. 5 c. 102.7 d. 146
Richard received a letter in the mail that he had just won a cash prize of $2 million in a sweepstakes. The letter said all he had to do was return the winning entry coupon in time
In small print at the end of the letter it stated that the winner had been preselected by a computer and if the winner did not respond, then all the names of those who did respond would be put on a list for a draw for the prize and the odds of winning were 1in 130 million. Richard sent in his entry coupon but did not get the $2 million. When he contacted the company and asked where his money was they told him he had not won, but he insisted that the letter said he was a winner. If Richard wanted to take legal action most likely the result would be A) Richard would get nothing as nobody would have believed they had won $2 million B) the company would owe Richard $2 million C) the company would have to pay Richard a small punitive award of about $15,000 to deter this practice D) the company would have to pay $10 million AMP E) the executives of the company that created this scheme would go to jail for up to 10 years