Which of the following items should be classified as an extraordinary item on a corporate income statement?
a. Excess of the selling price over the cost of treasury stock
b. Loss due to takeover of property by a foreign government
c. Gain on the sale of a long-term investment
d. Loss due to discontinued operations
B
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Explain the hedonic shopping motive "the thrill of the hunt."
What will be an ideal response?
In which of the following Internet business models does a merchant create an online digital environment that enables people with like interests to share information?
A) community provider B) service provider C) market creator D) transaction broker E) portal
Ashley, a U.S. citizen, works in England for part of the year. She earns $40,000 in England, paying $10,000 in income taxes to the British government. Her U.S. income is $60,000 and she pays $12,000 in U.S. taxes. Her U.S. taxes on her worldwide income are $20,000. What is Ashley's excess foreign tax credit? Assume she does not qualify for the foreign-earned income exclusion.
A) $0 B) $2,000 C) $4,000 D) none of the above
A decrease in the return on equity ratio could be caused by an increase in
A) tax rate. B) cost of goods sold. C) total assets. D) both B and C.