Under the "check-the-box" Regulations, a two-owner LLC that fails to elect to be to treated as a corporation will be taxed as a sole proprietorship
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: Partnership is the default classification for a two-owner LLC that does not elect to be treated as a corporation under the "check-the-box" Regulations.
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Which of the following traits of a brand's ability to become a lovemark keeps the five senses of sight, hearing, smell, touch, and taste on constant alert for new textures, intriguing scents and tastes, music, and other such stimuli?
A) sensuality B) intimacy C) mystery D) practicality E) sensitivity
The following unit data were assembled for the heating process of Morgan Processing Inc for the month of August. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO process costing method. Units Beginning work in process inventory (30 percent complete) 5,000 Units started in August 44,000 Ending
work in process (60 percent complete) 4,500 The number of equivalent units produced by Morgan Processing with respect to direct materials costs is A) 39,500. B) 44,000. C) 49,000. D) 48,500.
Under the perpetual inventory system, the cost of merchandise sold is recorded when sales are made
Indicate whether the statement is true or false
The perpetual method of records transfer requires a duplicate set of storage equipment
Indicate whether the statement is true or false.