What event determines when a cash or accrual method of accounting taxpayer reports a liquidating distribution?
What will be an ideal response?
A shareholder who uses the accrual method of accounting reports the gain or loss using accrual concepts (i.e., the gain or loss is recognized when all the events have occurred that fix the amount of the liquidating distribution and when the shareholders are entitled to receive the distribution upon surrender of their shares). A shareholder who uses the cash method of accounting reports the gain when he or she has actual or constructive receipt of the liquidating distribution.
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At La Rue Fashions, there is a certain customer who makes large purchases every Friday and returns everything two weeks later. In response, the manager recently created a policy and published it. It included specifics of the store's terms regarding returned merchandise stating that all tags must be intact; the clothing must not have been worn; and it must be returned within seven days to receive credit. Which of the following best describes the retailer's actions?
A. Getting the lead out B. Cutting off services C. Data mining D. RFM analysis E. Add-on selling
It is especially important to marketing professionals that articles written by a firm's experts include bylines so that the ________
A) expert receives a commission B) author's biographical data is clear C) ethics of the article cannot be debated D) name of the firm is sufficiently promoted E) firm gives appropriate credit to the expert
What are the three inventories used by manufacturing businesses?
a. Materials inventory, work in process inventory and finished goods inventory b. Materials inventory, work in process inventory and supplies inventory c. Supplies inventory, work in process inventory and finished goods inventory d. Cost of goods sold, work in process inventory and finished goods inventory e. Materials inventory, work in process inventory and overhead inventory
The basic decision environment categories are:
A) certainty and risk. B) risk and uncertainty. C) certainty and uncertainty. D) certainty, uncertainty and risk.