Securitization is the process of transforming illiquid financial assets such as residential mortgages into marketable securities
Indicate whether the statement is true or false
TRUE
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Which of the following is not descriptive of a trade show?
A. Buyers see the latest products and styles being offered by vendors. B. Buyers review performance of the vendor during the previous season. C. Vendors have celebrities at their booth to promote their merchandise and attract buyers. D. Trade shows are often associated with wholesale market centers. E. Buyers meet with manufacturer executives to discuss strategies to grow their business.
The last step involved in the point method of job evaluation is determining the compensable factors.
Answer the following statement true (T) or false (F)
Paris Corporation has E&P of $200,000. Paris owns all of Slider Corporation's stock, which is worth $80,000. The stock has been held for five years. Paris distributes all of the Slider stock and $20,000 cash to a 50% shareholder in exchange for all of the shareholder's 100 shares of Paris stock. The exchange qualifies as a Sec. 355 split-off transaction. The 50% shareholder's basis in the Paris
stock surrendered is $90,000. What is the amount of the gain that the 50% shareholder must recognize? What will be an ideal response?
Archer Manufacturing had sales for the week of $3,145, of which $2,500 was on credit and $645 in cash sales. The cost of the merchandise sold was $1,716. The journal entries would include a:
A) debit to Cost of Goods Sold for $1,716; credit to Inventory for $1,716. B) debit to Cash for $3,145, credit to Sales for $3,145. C) debit to Cash for $3,145 and a credit to Cost of Goods Sold for $3,145. D) debit to Cost of Goods Sold for $1,716; credit to Sales of $1,716.