Although having something to eat or drink may be a want, the desire for a specific brand name is referred to as a need
Indicate whether the statement is true or false
FALSE
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?The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business organization.
Answer the following statement true (T) or false (F)
Strategic management should only include short-term objectives. Long-term objectives are covered in the organization's vision statement.
Answer the following statement true (T) or false (F)
Grown Industries reported the following items for 2016:
Income tax expense $ 60,000 Contribution margin 200,000 Controllable fixed costs 80,000 Interest expense 40,000 Total operating assets 650,000 How much is controllable margin? a) $60,000 b) $20,000 c) $120,000 d) $200,000
Norman transfers machinery that has a $45,000 basis and a $105,000 FMV and $30,000 in money to Elnor Corporation in exchange for 50 shares of Elnor stock. The machinery, used in Norman's business, originally cost him $150,000 and is subject to an $84,000 liability which Elnor Corporation assumes. Kate exchanges $51,000 cash for the remaining 50 shares of Elnor stock.a)What is the amount and character of Norman's recognized gain or loss?b)What is his basis in the Elnor stock?c)What is Elnor's basis in the machinery?d)What is the amount and character of Kate's recognized gain or loss?e)What is Kate's basis in the Elnor stock?f)When do Norman and Kate's holding periods for their stock begin?
What will be an ideal response?