David likes New Balance running shoes. However, when he stopped by the Foot Locker to buy a new pair of running shoes he notice that Nike had a new pair of running shoes that cost $350. To David the higher price of the Nike shoe indicated that it would be a better pair of running shoes. This is an example of _____.
A. premium pricing
B. price lining
C. prestige pricing
D. exclusive pricing
E. selective pricing
Answer: C
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Grantly Seafood is a calendar year taxpayer. In 2019, a hurricane destroyed three of Grantly's fishing boats with a $784,500 aggregate adjusted tax basis. On October 12, 2019, Grantly received a $1 million reimbursement from its insurance company. On May 19, 2020, Grantly purchased a new fishing boat for $750,000. Compute Grantly's recognized gain or loss on the involuntary conversion and its tax basis in the new boat.
A. $215,500 recognized gain; $750,000 basis in the boat B. $250,000 recognized gain; $784,500 basis in the boat C. $250,000 recognized gain; $750,000 basis in the boat D. None of the above
If a company used the indirect method in the statement of cash flows, a loss on the sale of plant, property and equipment is an:
a. operating cash outflow. b. operating cash inflow. c. investing cash outflow. d. investing cash inflow.
What temperature was Jack-in-the-Box cooking its burgers at when the E-Coli illnesses and deaths occurred?
a. 140 degrees b. 150 degrees c. 155 degrees d. 160 degrees e. 165 degrees
The formula for a regression line is y = a + bx
Indicate whether the statement is true or false