Privity means that one is a party to a contract

Indicate whether the statement is true or false


TRUE

Business

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A department store has the greatest assortment of any general merchandise retailer

Indicate whether the statement is true or false

Business

Markov analysis is a descriptive technique that results in probabilistic information

Indicate whether this statement is true or false.

Business

At the end of Year 1, Tony had a tax basis of $40,000 in Tall Ladders, Limited Partnership. Tony has a 20 percent profits interest in Tall Ladders. For Year 2, Tall Ladders will pay Tony a $10,000 guaranteed payment for extra services he provides to the partnership. Given the following income statement and balance sheet from Tall Ladders, what is Tony's adjusted tax basis at the end of Year 2?TALL LADDERS, LPIncome StatementYear 2Sales$65,000 COGS$(47,000)Gross Profit$18,000 Interest Income$3,000 Dividends$5,000 Long-Term Capital Gain$10,000 Other Income$15,000 Total Other Income$33,000 MACRS Depreciation$(20,000)Guaranteed Payments$(10,000)Charitable Contribution$(10,000)Fines and Penalties$(4,500)Other Expenses$(8,500)Total Other Expenses$(53,000)Net Income (Loss)$(2,000)TALL

LADDERS, LPBalance Sheet Year 1Year 2Assets$120,000$270,000Nonrecourse Liabilities$50,000$180,000Partner's Capital$70,000$90,000 What will be an ideal response?

Business

Shared value opportunities exist at the intersection of social need, business context, and _________ corporate assets.

a. minimal b. large c. unique d. marginal

Business