Spiegel Inc. sold Christmas cards on page two of its holiday retail catalog. Spiegel designed and printed the cards. Proceeds from the sales of the Christmas cards purchased through the catalog went to benefit the Starlight Children's Foundation and the National Center for Missing and Exploited Children. This is an example of
A. the marketing concept.
B. societal marketing.
C. corporate altruism.
D. cause marketing.
E. philanthropic marketing.
Answer: D
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Answer the following statements true (T) or false (F)
The first lease accounting standard was issued in 1966.
Which of the following statements regarding the schedule of cost of goods manufactured and sold is correct?
A. The schedule is an internal document, which is not presented with the company's financial statements, and, in addition, the schedule of cost of goods manufactured and sold reports the amount of direct raw materials used during the period. B. The schedule is an internal document, which is not presented with the company's financial statements. C. The schedule of cost of goods manufactured and sold shows the amount of cash paid for raw materials. D. The schedule of cost of goods manufactured and sold reports the amount of direct raw materials used during the period.
As a general rule, a person may do through an agent whatever business activity he may accomplish personally
a. True b. False Indicate whether the statement is true or false
IPM Inc. and Zeta Company formed IPeta Inc. by transferring business assets in exchange for 1,000 shares of IPeta common stock. IPM transferred assets with a $675,000 FMV and a $283,000 adjusted tax basis and received 600 shares. Zeta transferred assets with a $450,000 FMV and a $98,000 adjusted tax basis and received 400 shares. Determine IPM and Zeta's tax basis in their IPeta stock and IPeta's aggregate tax basis in the transferred assets.
A. IPM's basis $283,000; Zeta's basis $98,000; IPeta's basis $381,000 B. IPM's basis $283,000; Zeta's basis $450,000; IPeta's basis $733,000 C. IPM's basis $675,000; Zeta's basis $450,000; IPeta's basis $1,125,000 D. None of the above