An intended beneficiary can sue directly to enforce a promisor's promise
Indicate whether the statement is true or false
True
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Port, Inc paid a cash dividend on January 2 that had been declared prior to the end of its fiscal year. The entry to pay the dividend will
a. increase Cash and increase Cash Dividend Payable. b. decrease Cash Dividend Payable and decrease Cash. c. decrease Retained Earnings and increase Cash Dividend Payable. d. decrease Cash Dividend Payable and increase Retained Earnings.
The Mann-Whitney U test is a statistical test for a variable measured on an ordinal scale, comparing the difference in the location of two populations based on observations from two independent samples
Indicate whether the statement is true or false
The ________ Act expanded states' rights with regard to Internet surveillance technology, including workplace surveillance, and amended the Electronic Communications Privacy Act.
Fill in the blank(s) with the appropriate word(s).
Erica and Brett decide to form their new motorcycle business as an LLC. Each will receive an equal profits (loss) interest by contributing cash, property, or both. In addition to the members' contributions, their LLC will obtain a $50,000 nonrecourse loan from First Bank at the time it is formed. Brett contributes cash of $5,000 and a building he bought as a storefront for the motorcycles. The building has an FMV of $45,000 and an adjusted basis of $30,000 and is secured by a $35,000 nonrecourse mortgage that the LLC will assume. What is Brett's outside tax basis in his LLC interest?
A. $40,000. B. $42,500. C. $45,000. D. $37,500.