In order to constitute as a gift,
A) the donor must intend to transfer ownership of property within his or her lifetime
B) the donee need not actually accept the gift.
C) the donor must deliver the gift property to the donee.
D) the donor may revoke the gift at any time.
C
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Which of the following inventory costing methods uses the costs of the oldest purchases to calculate the value of the ending inventory?
A) specific identification B) weighted-average C) last-in, first-out D) first-in, first-out
Curtis invests $250,000 in a city of Athens bond that pays 7 percent interest. Alternatively, Curtis could have invested the $250,000 in a bond recently issued by Initech, Inc. that pays 9 percent interest with similar risk as the city of Athens bond. Assume that Curtis's marginal tax rate is 24 percent.How much implicit tax would Curtis pay on the city of Athens bond?
A. $17,500 B. $5,000 C. $1,300 D. $1,400 E. None of the choices are correct
In which stage of extraction, transformation, and load (ETL) into a data warehouse are data aggregated?
A) transformation B) extraction C) load D) cleanse
In the JK partnership, Jacob's capital is $140,000, and Katy's is $40,000. They share income in a 3:2 ratio, respectively. They decide to admit Erin to the partnership. Each of the following questions is independent of the others.Refer to the information provided above. Erin invests $50,000 for a one-fifth interest in the total capital of $230,000. The journal entry to record Erin's admission into the partnership would include
A. a credit to Katy, Capital for $1,600. B. a credit to Cash for $50,000. C. a debit to Jacob, Capital for $2,400. D. a credit to Erin, Capital for $50,000.