Nicole gives her young daughter Kelli an allowance of $5 a week. Sometimes, Nicole takes Kelli shopping. But if Kelli wants something that costs more than she has saved, Nicole reminds her she needs to keep saving. When Kelli is finally able to purchase a special, more expensive item, she is allowed to pay for it herself, including bringing the product to the sales clerk to complete the purchase. In this way, Nicole encourages the development of Kelli's
A. consumer socialization.
B. purchasing enculturation.
C. consumer assimilation.
D. purchasing socialization.
E. consumer acculturation.
Answer: A
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A) new product B) market segment C) marketing intermediary D) brand E) product line
Those who embrace the ______ school believe a social entrepreneur is a change agent who produces change that improves the condition of people and society.
A. nonprofit sector B. corporate world C. social enterprise D. social innovation
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Answer the following statement true (T) or false (F)
This year, John, Meg, and Karen form Frost Corporation. John contributes land purchased as an investment four years ago for $25,000 that has a $30,000 FMV in exchange for 30 shares of Frost stock. Meg contributes machinery (Sec. 1251 property) purchased four years ago and used in her business having a $50,000 adjusted basis and a $30,000 FMV in exchange for 30 shares of Frost stock. Karen
contributes services worth $15,000 and $5,000 cash in exchange for 20 shares of Frost stock. a) What is the amount of John's recognized gain or loss? b) What is John's basis in his Frost shares? When does his holding period begin? c) What is the amount of Meg's recognized gain or loss? d) What is Meg's basis in her Frost shares? When does her holding period begin? e) How much income, if any, must Karen recognize? f) What is Karen's basis in her Frost shares? When does her holding period begin? g) What is Frost Corporation's basis in the land and the machinery? When does its holding period begin? How does Frost Corporation treat the amount paid to Karen for services?