The United States Constitution:
a. has both clear rules and general principles b. has only clear rules
c. has only general principles d. has one fundamental goal e. none of the other choices
a
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Which of the Situational Leadership II Model leadership styles is closest to an authoritarian style?
a. directing b. coaching c. supporting d. delegating
Which of the following is a technique by which a new party is substituted for one of the old parties, and a new contract is written (with the consent of all old and new parties) to effect the desired change?
a. Novation b. Substitution c. Formal change d. Verified change
Early distributions from qualified retirement plans are assessed a 10 percent penalty. However, there are some exceptions to this rule. All of the following distributions are exempt from the penalty tax EXCEPT
A) lump-sum distributions made after age 59.5. B) lump-sum distributions made directly to the employee at any age when he or she changes employers. C) lump-sum distributions made after the death or permanent disability of the employee. D) distributions that are part of a series of substantially equal payments over the worker's life expectancy.
The information below is for the second quarter of Tampa Company for 20X8: Revenues of 2nd quarter$18,000,000 Cost of sales (includes the replacement cost of the LIFO inventory liquidated) 12,400,000 Cost of sales (does not include the replacement cost of the LIFO inventory liquidated) 11,600,000 Operating expenses for 2nd quarter 3,000,000 Estimated annual repairs and property taxes (not included in the operating expenses for the 2nd quarter) 600,000 Loss from early extinguishment of debt (not material in relation to the expected annual income) 500,000 Income tax expense, 1st quarter 350,000 Income before tax, 1st quarter 1,000,000 Effective annual income tax rate 30% Required:Prepare an interim income statement for
the second quarter for Tampa Company. Assume the LIFO liquidation is expected to be restored by the end of 20X8. What will be an ideal response?