Salaries paid to partners are deducted in calculating net income of the partnership
Indicate whether the statement is true or false
F
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If demand is elastic rather than inelastic, sellers will consider lowering their prices
Indicate whether the statement is true or false
Can the holder of a life estate mortgage his life estate?
A) Yes, so long as the mortgage term is limited to the length of the life estate B) No, because a life estate is not real property C) Yes, with the only restrictions being those applicable to a mortgage of a fee simple interest D) Yes, but only if the holder of the remainder interest or reversion also simultaneously mortgages that interest E) No, because of the uncertainty over how long the interest will last
On June 30, 2017, Martin Brothers, Inc showed the following data on the equity section of their balance sheet
Stockholders' Equity Common Stock, $1 par; 197,000 shares authorized, 146,000 shares issued and outstanding $146,000 Paid-In Capital in Excess of Par-Common $271,000 Retained Earnings 941,000 Total Stockholder's Equity $1,358,000 On July 1, 2017, the company declared and distributed a 8% stock dividend. The market value of the stock at that time was $17 per share. Following this transaction, what is the balance of Paid-In Capital in Excess of Par-Common? A) $227,640 B) $523,160 C) $271,000 D) $457,880
Basic configurations for processing online payments include each of the following except
A) using a POS operated by an acquirer. B) using a POS operated by a payment service provider. C) owning the payment software. D) contracting with an online cash checking company.