Which of the following is a cash inflow from operating activities?
a. the proceeds from the issuance of stock; b. interest received on loans made to other companies; c. additional investments by the owners; d. the gain from the sale of a patent; e. the proceeds from issuing notes payable
B
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Which of the following statements is correct regarding S corporation estimated taxes?
A. S corporations with a federal income tax liability of $100 due to the excess net passive income tax must pay estimated taxes. B. S corporations that owe $5,000 in LIFO recapture tax only must pay estimated taxes. C. S corporations never pay estimated taxes. D. S corporations with a federal income tax liability of $500 due to the built-in gains tax or excess net passive income tax must pay estimated taxes. E. None of the choices are correct.
Marketers can use search engine marketing to improve the visibility of their websites in customers' searches online.
Answer the following statement true (T) or false (F)
Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4. Using the perpetual LIFO inventory method, what is the value of inventory after the October 4 sale?
A. $3,445. B. $3,472. C. $3,485. D. $3,500. E. $3,461.
In pollution cases involving strict liability for abnormally dangerous activities, courts have found which of the following activities to be abnormally dangerous:
a. emitting of steam by factories b. using wasteful amounts of water in product production c. storing of flammable liquids in quantity in an unpopulated area d. all of the other specific choices are correct e. none of the other specific choices are correct