______________________________ is an account that can only exist if one company purchases another business and the cost exceeds the fair market values of the identifiable net assets at the time acquired
Fill in the blank(s) with correct word
Goodwill
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Drenning Manufacturing produces flooring material. The monthly fixed costs are $10,000 per month. The unit sales price is $75, and variable cost per unit is $35. Drenning wishes to earn an operating income of $25,000. Using the contribution margin ratio, calculate the total sales revenue that is needed. (Round intermediate calculations to five decimal places.)
What will be an ideal response?
Dina asks Edie to co-sign a credit application so that she can borrow money and buy a piano from First Chair, a musical instruments and supplies seller. If, after the loan agreement is signed, Dina agrees to a higher rate of interest without telling Edie, then Edie is
a. discharged from the agreement. b. liable at the higher rate of interest. c. liable at the lower rate of interest. d. liable for the principal only.
Consequential damages are foreseeable damages that arise from a party's breach of a contract.
Answer the following statement true (T) or false (F)
Identify which of the following statements is true.
A) For expenses incurred after December 31, 2017, no deduction is allowed for any activities involving entertainment, amusement, or recreation, including expenses related to a facility used in connection with these activities. B) The Dividends Received Deduction for individuals is limited to 50%. C) Domestic Production Activities Deduction carry overs that originated from pre 2018 tax years are limited to 50% of taxable income until 2025. D) Deductibility of business interest in a given year is limited to 80% of adjusted taxable income.