An example of a core service, whose physical distribution is severely restricted is ____________
a. McDonald's
b. Gold's Gym
c. Club Med
d. Accenture
e. Sun Microsystems
c
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Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1, 2018. To obtain these shares, Flynn pays $400 cash (in thousands) and issues 10,000 shares of $20 par value common stock on this date. Flynn's stock had a fair value of $36 per share on that date. Flynn also pays $15 (in thousands) to a local investment firm for arranging the acquisition. An additional $10 (in thousands) was paid by Flynn in stock issuance costs.The book values for both Flynn and Macek as of January 1, 2018 follow. The fair value of each of Flynn and Macek accounts is also included. In addition, Macek holds a fully amortized trademark that still retains a $40 (in thousands) value. The figures below are in thousands. Any related question also is in thousands. Flynn, Inc Macek
Company Book Value Fair ValueCash$900 $80 $80 Receivables 480 180 160 Inventory 660 260 300 Land 300 120 130 Buildings (net) 1,200 220 280 Equipment 360 100 75 Accounts payable 480 60 60 Long-term liabilities 1,140 340 300 Common stock 1,000 80 Additional paid-in capital 200 0 Retained earnings 1,080 480 ?What amount will be reported for consolidated inventory? A. $920,000. B. $660,000. C. $960,000. D. $620,000. E. $1,000,000.
In a business combination where a subsidiary retains its incorporation and which is accounted for under the acquisition method, how should stock issuance costs and direct combination costs be treated?
A. Stock issuance costs and direct combination costs are expensed as incurred. B. Direct combination costs are ignored, and the stock issuance costs result in a reduction to additional paid-in capital. C. Direct combination costs are expensed as incurred and stock issuance costs result in a reduction to additional paid-in capital. D. Both reduce additional paid-in capital. E. Both are treated as part of the acquisition consideration transferred.
Former partners, as well as current partners, have some rights to access partnership books and records
a. True b. False Indicate whether the statement is true or false
Bette backs out of City Parking Garage, colliding with Dill's car. Dill may recover $7,500 to cover the cost of the repairs if Bette failed to act as
a. a blameless person. b. a faultless person. c. a holistic person. d. a reasonable person.