The outright sale of accounts receivable at a discount in order to obtain funds is called pledging accounts receivable
Indicate whether the statement is true or false
Answer: False
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Josh owns a 25% capital and profits interest in the calendar year GDJ Partnership. His adjusted basis for his partnership interest on October 15 of the current year is $300,000. On that date, the partnership liquidates and makes a proportionate distribution of the following assets to Josh. Partnership’s Basis in Asset Asset’s Fair Market Value CashInventory$ 70,000 120,000 $ 70,000 150,000 ? a.Calculate Josh’s recognized gain or loss on the liquidating distribution, if any, and his basis in the distributed inventory. b.How would your answer to a. change if the partnership also distributed a small parcel of land it had held for investment to Josh? Assume the land has a $5,000 adjusted basis (FMV is $8,000) to the partnership.?
What will be an ideal response?
Under the World Trade Organization, the most recent round of multilateral trade negotiations was the
a. Uruguay Round. b. Doha Round. c. Nixon Round. d. Kennedy Round.
The purpose of a superscript in text is to let the reader know
A) to read the marked line more carefully. B) how many sources the author consulted. C) that the report is scholarly. D) to look for source information.
When you ______ an emotion, you try to replace one emotion with another to which you believe audience members will respond more favorably.
a. intensify b. deintensify c. neutralize d. mask