Which of the following example involves transferring income to the future as well as transferring income from the future??
A. ?Buying a car with own surplus funds
B. ?Buying a car with a bank loan
C. ?Buying a security with own funds
D. ?Buying a security with borrowed funds
E. ?Selling a security to buy an insurance policy
Answer: D
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Corelle is a simple trust that correctly uses the calendar year for tax purposes. Its income beneficiaries (Kathie, Lynn, Mark, and Norelle) are entitled to the trust’s annual accounting income in shares of one-fourth each. For the current calendar year, the trust incurs ordinary business income of $40,000, a long-term capital gain of $20,000 (allocable to income), and a trustee commission expense of $4,000 (allocable to corpus). Use the format of Exhibit 20.5 in the text to address the following items: a.How much income is each beneficiary entitled to receive? b.What is the trust’s DNI? c.What is the trust’s taxable income? d.How much is taxed to each of the beneficiaries?
What will be an ideal response?
A first-come, first-served schedule minimizes the average flow time for all jobs
Indicate whether the statement is true or false
Harbor Bay Development hires Guthrie to act as its agent to buy a 100-acre waterfront tract of land from Frankie for $1,000 per acre. Harbor Bay does not want Frankie to know that it is the principal or that Guthrie is its agent. Harbor Bay wants the land for a new marina, and believes that Frankie may not sell the land for that purpose or may demand a premium price. Guthrie makes the purchase, signing only his name on the contract as the buyer and not disclosing to Frankie the agency relationship. Harbor Bay gives Guthrie the amount to pay for the land, but Guthrie absconds with the funds. Frankie soon learns of Harbor Bay's identity. Can Frankie enforce the contract against Harbor Bay? against Guthrie?
What will be an ideal response?
In the context of GPS-enabled location-based services, the ability to determine the basic geographic position of a cell phone is an example of ________ service
A) location B) mapping C) navigation D) tracking E) reintegration