A check is a formal contract.
Answer the following statement true (T) or false (F)
True
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Stock in Merlin Corporation is held equally by Jane, Eve, and Fred. Merlin seeks additional capital to buy a valuable tract of land that will cost $6,000,000. Jane, Eve, and Fred propose to loan Merlin $2,000,000 each, taking from Merlin a $2,000,000 10-year note with interest payable annually at five points above the prime rate. Merlin Corporation has current taxable income of $7,000,000. How are the payments on the notes treated for tax purposes?
What will be an ideal response?
Depreciation expense is an example of an accrued expense.
Answer the following statement true (T) or false (F)
Bring out the difference between a job structure based on content and another based on value.
What will be an ideal response?
The Affordable Care Act created program that enables small firms to offer health insurance to their employees. The program provides flexibility, choice, and the convenience of on-line account management. This program is called the
A) Medical Advantage plan. B) Medicaid program. C) FAIR plan. D) SHOP Marketplace program.