The factor that most distinguishes a Subchapter S corporation from a "C corporation" is:
a. its organizational structure.
b. its treatment of shareholders for income taxation purposes.
c. its requirement of restrictive transfer rights of the shares.
d. its small cost of formation.
b
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Which assertion is generally the most relevant when auditing the restrictions contained in debt obligations?
a. Completeness. b. Valuation. c. Proper presentation and disclosure. d. Existence.
Mary, Ann, and Beth are partners. Their capital balances are, $23,000; $41,000; and $30,000, respectively. As per the partnership agreement, Mary receives a profit share of 2/9; Ann has 4/9; and Beth has 3/9. Beth withdraws from the partnership by receiving $23,000. What will be the impact of this transaction on the journal entries?
A) Cash will be debited for $30,000. B) Mary, Capital will be debited for $7000. C) Ann, Capital will be credited for $7000. D) Beth, Capital will be debited for $30,000.
Systems that are used by firms to select the best mix of transportation services and pricing are known by which of the following?
a. TJS b. TMS c. TPS d. TCS
The tasks of reviewing and refining the manner in which we have classified risks for the project, determining if there are commonalities across the various risks we have uncovered are performed in the ________ of the project risk analysis and
management model. A) structure step B) ownership step C) define step D) plan step