A loan arrangement in which there is no set number of payments. As the balance of the loan is reduced, the borrower can renew the amount of the loan up to a pre-approved credit limit is called a mortgage.?
Indicate whether the statement is true or false
False
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In 2008, ________ were the top advertising spending category in the United States
A) food producers B) automobile manufacturers C) apparel producers D) health care providers E) restaurants
Roger, a minor, buys a stereo from Tuneland, Inc Roger uses the stereo for a few months, returns it to Tuneland, and demands his money back. Roger may rescind the contract, return the stereo and get his money back
Indicate whether the statement is true or false
Which of the following is (are) true concerning the UCP?
A) The UCP is a standardized set of rules in virtually all nations. B) Because the UCP was drafted by the ICC and is recognized in most states, it automatically governs international letters of credit. C) The UCP will govern a letter of credit only if its provisions are incorporated into the letter of credit by reference. D) A and C only. E)A and B only.
On January 1, 20X8, Putter Corporation acquired 40 percent of the voting shares of Shank Company for $65,000. Shank reported net income of $45,000 and paid dividends of $10,000 in 20X8. Putter reported operating income of $50,000 for the year. There is 80 percent exemption of intercompany dividends and the effective tax rate is 35 percent. Assume that the equity method is being used.For a subsidiary to be eligible to be included in a consolidated tax return, at least ________ of its stock must be held by the parent company or another company included in the consolidated return.
A. 40 percent B. 80 percent C. 50 percent D. 75 percent