Cash is a current asset.
Answer the following statement true (T) or false (F)
True
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A ________ is a small store, located near a residential area that is open long hours seven days a week and carries a limited line of high-turnover goods
A) convenience store B) chain store C) department store D) supermarket E) specialty store
In Consolidated Edison Co v. Public Service Comm., the New York utility commission ruled that the electric company could not send its customers information in support of nuclear power. The Supreme Court held the commission was:
a. correct; the customers were a captive audience that could not avoid the information b. correct; the utility is regulated by the state, so any expenditure of funds can be controlled c. correct; nuclear power is a political issue, discussions may be limited by firms affected by public policies d. incorrect; the utility has a First Amendment right to discuss political issues e. incorrect; no government agency may impose restrictions on the speech of private parties
Social programs and charitable donations made by businesses that have a tangible impact on people's lives are referred to as _________________________
Fill in the blank(s) with correct word
Identify which of the following statements is true.
A. Corporate purchasers generally prefer Sec. 338 treatment because of the significant tax savings originating from the step-up in basis. B. The Sec. 338 deemed liquidation rules require that 100% of the target corporation's stock be purchased. C. A deemed liquidation election is available when a target corporation is liquidated into its parent corporation. D. All of the above are false.