Derrick was in an automobile accident while he was going to work. The doctor advised him to stay home for eight months due to his physical injuries. The resulting lawsuit was settled and Derrick received the following amounts:Compensatory damages for physical injury$80,000Punitive damages95,000How much of the settlement must Derrick include in ordinary income on his tax return?
A. $80,000
B. $0
C. $95,000
D. $175,000
Answer: C
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A projective technique in which respondents are asked to play the role or assume the behavior of someone else is called ________
A) word association B) sentence completion C) story completion D) role playing E) evaluation technique
Laddering is a technique used in in-depth interviews in an attempt to discover how product attributes are associated with desired consumer values
Indicate whether the statement is true or false
A negotiated transfer price
a. is one that is bargained for between the managers of the buying and selling divisions. b. would not be based on a product market price that has been reduced through bargaining by division managers. c. could never be used in an agreement based on standard costs and a profit margin. d. is usually developed by lawyers following defined legal procedures.
Supplies are recorded as assets when purchased. Therefore, the credit to supplies in the adjusting entry is for the amount of supplies
A) that are in the ending balance B) purchased C) used D) either used or remaining