A C corporation was formed five years ago and is a fiscal-year taxpayer with a June 30 year-end. The C corporation wants to make an S election for its tax year beginning in the current year. The election must be made by ________ (assuming permission can be obtained to continue using the fiscal year from the IRS).
A) June 30 of the current year
B) September 15 of the current year
C) June 30 of the next year
D) September 15 of the next year
B) September 15 of the current year
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J. J. Johnson has decided to supplement his income by selling beehives. He expects to sell 25,000 hives in 2014. He ended 2013 with 2,500 completed hives in inventory and would like to complete operations in 2014 with at least 2,800 completed hives in inventory. There is no ending work in process inventory. One beehive holds about 250 bees. The bees are purchased for $4.00 per 1,000 bees. The
hives sell for $15.00 each. What would be the total of the 2014 sales budget of Johnson? A) $378,000 B) $375,000 C) $379,500 D) $376,500
Vast numbers of consumers are aware of your product. It is now your goal to enhance preference for your product. You plan to use nonpersonal communications through print media. This will include all of the following EXCEPT ________
A) newspapers B) magazines C) banner advertising D) flyers E) signs
PDF files are the most common format for distributing reports electronically because _____
A) readers have limited access to the report without downloading it B) the reports are more interactive C) reports can be updated frequently D) the reports can include links to multimedia content E) companies can track people interested in the information
All else being equal, which of the following changes would increase a company's net operating income?
A) A decrease in sales price. B) A decrease in contribution margin. C) An increase in variable costs D) A decrease in fixed costs.