If the IRS loses a case in a court proceeding, they may issue an acquiescence that means they will not follow the decision in similar cases
a. True
b. False
Indicate whether the statement is true or false
False
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Distinguish between tangible and intangible operating assets
If net operating income is $83,000, average operating assets are $415,000, and the minimum required rate of return is 14%, what is the residual income?
A. $24,900 B. $58,100 C. $107,900 D. $33,200
Which of the following is true about industrial buying decisions?
A) They are purely rational. B) They are purely emotional. C) They service both the organization's and the individual's needs. D) Top executives are never insecure about buying products. E) Individual needs legitimate the buying process and its outcomes.
The following information is for a product manufactured and sold by Drake Company:Sales price per unit: $100Variable cost per unit: $30Total annual fixed costs: $350,000Required:1) Calculate the contribution margin per unit.2) How many units must Drake sell to break-even?3) How many units must Drake sell to achieve a profit of $35,000?
What will be an ideal response?