Bobby T (95 percent owner) would like to elect S corporation status for DJ, Inc., but Dallas (5 percent owner) does not want to elect S corporation status. Bobby T cannot elect S status for DJ, Inc., without Dallas's consent.
Answer the following statement true (T) or false (F)
True
All shareholders on the date of the election must consent to the election.
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At the beginning of the year, a firm leased equipment on a capital lease, capitalizing $60,000 in both its lease liability and leased assets accounts. The contract calls for December 31 payments of $15,000 . The lessee's annual reporting period ends December 31 and the contract reflects 10% interest. The lessee made the first payment as required. The direct method statement of cash flows for the
lessee should reflect which of the following in the first year of the lease contract (ignore noncash disclosures)? a. $15,000 financing cash outflow b. $15,000 operating cash outflow c. $6,000 operating cash outflow; $9,000 financing cash outflow d. $9,000 financing cash outflow
The three stages of brand loyalty are: brand ____________________, brand ____________________, and brand ____________________.
Fill in the blank(s) with the appropriate word(s).
A "management buyout" is the same thing as an "ESOP."
Answer the following statement true (T) or false (F)
A common use of second-to-die life insurance is
A) insuring children. B) insuring "double income with kids" families. C) estate planning. D) insuring key employees of a business.