Shay owns an insurance agency that employs ten agents. The agents do all of the work prospecting new clients, identifying their insurance needs, selling them the appropriate policies, and providing ongoing service after the policies are issued. In terms of intensity, the operations of Shay’s agency would be categorized as ______.
a. organically intensive
b. human-intensive
c. people-intensive
d. labor-intensive
d. labor-intensive
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Charles, age 65, owns a paid-up $250,000 whole life policy on his own life. Charles is doing some estate planning and would not like this policy to be included in his gross estate for federal estate tax purposes
Which of the following statements is (are) true regarding the tax treatment of this policy? I. Charles can avoid having the policy proceeds included in his gross estate by naming his estate the beneficiary. II. If Charles makes an absolute assignment of the policy and dies more than three years later, the policy is not counted as part of his gross estate. A) I only B) II only C) both I and II D) neither I nor II
Bagwell's net income for the year ended December 31, Year 2 was $185,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2.At December 31Year 2Year 1Common Stock, $5 par value$500,000 $450,000 Paid-in capital in excess of par 948,000 853,000 Retained earnings 688,000 582,000
A. $106,000. B. $145,000. C. $50,000. D. $95,000. E. $185,000.
An accountant guilty of malpractice can be sued: ______
A) for breach of contract only. B) for negligence only. C) for breach of contract or for tort liability. D) in federal court only if the suit is brought by a third person.
Any computer that stores hypermedia documents and makes them available to other computers on the Internet is called a _____
A) client B) server C) station D) domain