Which of the following is true about environmental impact statements?
A) The public is not allowed to comment on environmental impact statements.
B) They are required only for projects where the federal government itself undertakes the
actual construction of the project.
C) Private activities also require an environmental impact statement.
D) They can be used in court as evidence in a lawsuit challenging an action as violating the
National Environmental Policy Act.
E) All federal, state, and local governmental actions require an environmental impact
statement.
D
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Beth owned an original United States flag. She had previously loaned the flag to Ross, a lawyer, so that he could display the flag on the wall behind his office desk. One day while visiting Ross in his office and admiring the flag, Beth said to Ross, "You are so fond of that flag, I would like you to have it!" Ross responded with a gracious "thank you." In this situation
a. Beth has not made a valid, binding gift of the flag because gifts are never binding and can always be revoked by the donor. b. Beth has not made a valid, binding gift of the flag because the donor must deliver the property to the donee, which was not done here. c. Beth has made a valid, binding gift if Beth agreed to give the flag in exchange for Ross's legal services. d. Beth has made a valid, binding gift because she intended to transfer present ownership to Ross and Ross accepted the flag.
The breakeven point represents the sales level at which the company's operating income is zero
Indicate whether the statement is true or false
The Environmental Protection Agency sets maximum levels for pollutants in public water systems
Indicate whether the statement is true or false
Martin Corporation granted a nonqualified stock option to employee Caroline on January 1, 2013. The option price was $150, and the FMV of the Martin stock was also $150 on the grant date. The option allowed Caroline to purchase 1,000 shares of Martin stock. The option itself does not have a readily ascertainable FMV. Caroline exercised the option on August 1, 2018, when the stock's FMV was $250.
Caroline sells the stock on September 5, 2019, for $300 per share. Martin Corporation will be allowed a deduction of A) $150,000 in 2013. B) $100,000 in 2018. C) $50,000 in 2019. D) $100,000 in 2018 and $50,000 in 2019.