During the year, Blue Corporation distributes land to its sole shareholder. If the fair market value of the land is less than its adjusted basis, Blue will not be able to recognize a loss on the distribution
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: All distributions of appreciated property generate recognized gain to the distributing corporation, but distributions of loss property do not trigger recognition of losses.
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What are some of the ethical responsibilities of researchers when they are developing scales?
What will be an ideal response?
______ should be fair, unbiased, appropriate, and from a recognized expert.
a. Testimony b. Example c. Narrative d. Fact
The accounts of Melissa Manufacturing showed the following balances at the beginning of December
Account Debit Raw Materials Inventory $55,000 Work-in-Process Inventory 81,000 Finished Goods Inventory 38,000 Manufacturing Overhead 17,000 The following transactions took place during the month: December 2: Issued direct materials $37,000 and indirect materials $4,000 to production. December 15: Incurred $6,000 and $5,000 toward factory's direct labor cost and indirect labor cost, respectively. What should be the balance in the Work-in-Process Inventory following these transactions? A) $124,000 B) $87,000 C) $75,000 D) $86,000
Your local paper carrier could make use of the shortest-route technique
Indicate whether the statement is true or false