Use of technical language or jargon violates the principle of clarity
Indicate whether the statement is true or false
FALSE
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Product placement:
A) emphasizes consumers passing along information about a product to other consumers B) is designed to obtain instant results while using limited resources C) is the planned insertion of a brand or product into a movie, television show, or some other media D) is the integration of entertainment and advertising by embedding brands into the storyline of a movie, television show, or other entertainment medium
Lloyd and Harry, equal partners, form the Ant World Partnership. During the year, Ant World had the following revenue, expenses, gains, losses, and distributions: Cost of Goods Sold$85,000Cash Distribution to Harry$15,000Municipal Bond Interest$1,500Short-Term Capital Gains$4,500Employee Wages$40,000Rent$10,000Charitable Contributions$25,000Sales$175,000Repairs and Maintenance$5,000Long-Term Capital Gains$12,000Fines and Penalties$5,000Guaranteed Payment to Lloyd$25,000 Given these items, what amount of ordinary business income (loss) and what separately stated items should be allocated to each partner for the year?
What will be an ideal response?
Distribution capabilities can increase as a result of co-branding, which is an advantage for participating partners.
Answer the following statement true (T) or false (F)
Sub Company sells all its output at 20 percent above cost to Par Corporation. Par purchases its entire inventory from Sub. The incomes reported by the companies over the past three years are as follows: YearSub Company'sNet IncomePar Corporation'sOperating Income20X6 150,000 $225,000 20X7 135,000 360,000 20X8 240,000 450,000 Sub Company sold inventory for $300,000, $262,500 and $337,500 in the years 20X6, 20X7, and 20X8 respectively. Par Company reported ending inventory of $105,000, $157,500 and $180,000 for 20X6, 20X7, and 20X8 respectively. Par acquired 70 percent of the ownership of Sub on January 1, 20X6, at underlying book value. The fair value of the noncontrolling interest at the date of acquisition was equal to 30 percent of the book value of Sub Company.Based
on the information given above, what will be the consolidated net income for 20X6? A. $490,000 B. $317,750 C. $375,000 D. $357,500