To qualify for Subchapter S treatment under the Internal Revenue Code, a domestic corporation must have ________
A) membership in an affiliated group of corporations
B) more than 35 shareholders
C) only one class of stock outstanding
D) at least one nonresident alien shareholder
C
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Allowance for Doubtful Accounts is listed on the balance sheet under the caption
A) owner's equity B) investments C) fixed assets D) current assets
Viva, Inc. bought machine X for $18,000 two years ago. The machine had no residual value and had an estimated useful life of 10 years. If the company uses the straight-line depreciation method, calculate the current book value of the machine
A) $14,400 B) $3,600 C) $19,800 D) $18,000
Which of the following is a website that permits users to create pinboards of ideas and images around a wide range of topics for sharing with fellow users?
A. Pinterest B. hi5 C. Reddit D. Ning E. LinkedIn
Assume that you are the manager of a U.S. company and you face an exchange rate of ¥120 per $1
Whenever you receive an order, rather than ship from your production facilities, you call in the order to a Japanese company and have the bill shipped to you directly. If the bill shipped to you is ¥7,500 and you can collect $65 per item sold to your customer, what would be your profit per item be if you pay the Japanese company ¥7,500? A) $1.50 per item B) $1.60 per item C) $2.50 per item D) $2.80 per item