Which of the following is NOT one of the external responsibilities of a project manager?
a. Report project status
b. Assess project risks
c. Work with the client
d. Identify resource needs
b
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St. Clair Company reports positive current E&P of $500,000 in 20X3 and positive accumulated E&P at the beginning of the year of $400,000. St. Clair Company distributed $600,000 to its sole shareholder, Danielle Brush, on December 31, 20X3. Danielle's tax basis in her St. Clair stock is $120,000. How much of the $600,000 distribution is treated as a dividend to Danielle, and what is her basis in St. Clair stock after the distribution?
What will be an ideal response?
A company's store was destroyed by an earthquake on February 10 of the current year. The only information for the current period that could be salvaged included the following: Beginning inventory, January 1:$44,000Purchases to date:$198,000Sales to date:$310,000Historically, the company's gross profit ratio has been 30%. Estimate the value of the destroyed inventory using the gross profit method.
What will be an ideal response?
If a voidable contract is ratified, the parties must fully perform their respective legal obligations
a. True b. False Indicate whether the statement is true or false
Hara Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $159.80 per unit. Sales volume (units) 6,000 7,000Cost of sales$363,600 $424,200Selling and administrative costs$531,000 $547,400 The best estimate of the total variable cost per unit is:
A. $138.80 B. $149.10 C. $77.00 D. $60.60