In 2014, Ryan Corporation reported $85,000 net income before income taxes. The income tax rate for 2014 was 30 percent. Ryan had an unused $65,000 net operating loss carryforward arising in 2013 when the tax rate was 35 percent. The income tax expense Ryan would report for 2014 would be

a. $7,000.
b. $6,000.
c. $24,600.
d. $32,000.


B

Business

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A. broker. B. financial intermediary. C. stock exchange. D. venture capitalist.

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Which accounting application is best suited to batch processing?

a. general ledger b. updating inventory reductions to the subsidiary ledger c. sales order processing d. credit checking

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Indicate whether the statement is true or false

Business

A local coffee shop offers a contest for fans to create its new iced coffee concoction by submitting recipes to a website. The creators of the top three recipes are then invited into the store to make taste-size samples for customers, who will determine the winner by voting. This is an example of ________

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