Which of the following communications between an accountant and client are privileged?
a) During the preparation of her 2018 tax return, Tammy informs her accountant that she contributed $25,000 to a qualified charitable organization.
b) After filing his tax return, a client mentions to his accountant that he forgot to report a $7,000 prize that he won playing bingo. He asks how he should correct the error.
c) A client tells his accountant that he will no longer pay alimony to his ex-wife.
Only communication (b) is privileged because it is made for the purpose of obtaining professional tax advice. Communication (a) is not privileged because it is made for tax preparation purposes only. Communication (c) is not privileged because it does not involve a tax matter.
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Ronald McDonald confounds the Hamburglar in the basic struggle of good versus evil as played out in a McDonald's commercial. This is an example of a marketing message communicated in the form of ________
A) social marketing B) e-commerce C) value management D) a myth E) a distinctive competency
U.s. gaap
a. does not allow firms to amortize goodwill in measuring net income each period. b. requires that an annual test for impairment in the value of goodwill be performed each period. c. requires the write-down of goodwill and recognition of an impairment loss if an impairment in the value of goodwill exists. d. all of the above e. none of the above
Issued shares represent the:
A) number of previously issued shares that have been repurchased by the corporation. B) number of shares that the corporation has distributed to owners to date. C) number of shares that are currently held by stockholders. D) maximum number of shares that can be sold by the corporation.
Refer to the following selected financial information from Troy Manufacturing. Compute the company's working capital. Current Assets306,450 Plant assets338,000 Current Liabilities107,800 Net sales676,000 Net Income75,000
A. $568,200. B. $231,450. C. $198,650. D. $536,650. E. $230,200.