Which of the following is the major problem underlying future events and their impact upon event recognition?
a. Management intent
b. The probabilistic nature of future events
c. The perception of the past event
d. Future economic conditions
ANSWER: B
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On March 15, 2018, Blue Corporation purchased 10% of the Gold Corporation stock outstanding. Blue Corporation purchased an additional 40% of the stock in Gold on October 24, 2018, and an additional 25% on April 4, 2019. On July 25, 2019, Blue Corporation purchased the remaining 25% of Gold Corporation stock outstanding. a.For purposes of the § 338 election, on what date does a qualified stock purchase occur? b.What is the due date for making the § 338 election?
What will be an ideal response?
A truck owned and operated by Mingus Company was involved in an accident with an auto driven by S. Nara on January 12, 2014 . Mingus received notice on April 24, 2014, of a lawsuit for $800,000 damages for a personal injury suffered by S. Nara. Mingus's counsel believes it is probable that S. Nara will be successful against the company for an estimated amount in the range between $100,000 and
$400,000 . No amount within this range is a better estimate of potential damages than any other amount. It is expected that the lawsuit will be adjudicated in the latter part of 2015 . What amount of loss should Mingus accrue at December 31 . 2014? a. $400,000 b. $250,000 c. $100,000 d. $800,000
Choose the correct word or words in parentheses. Terry, as well as her brothers, (is, are) an avid soccer fan
Clara is a salesperson in The Corner Store. When Carla makes a sale to Jenny, the sale is
a. binding on The Corner Store. b. binding on Carla. c. binding on The Corner Store only if the owner of The Corner Store is present when the sale is made. d. not binding on anyone.