Because of the expense and training involved, Six Sigma is practical only in large manufacturing organizations
Indicate whether the statement is true or false
F
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Which of the following legislations provides for both civil and criminal penalties, including up to recovering treble damages, for securities fraud by accountants?
A) Private Securities Litigation Reform Act of 1995 B) Section 32(a) of the Securities Exchange Act of 1934 C) Tax Reform Act of 1976 D) Racketeer Influenced and Corrupt Organizations Act
Marjam Company owns 30,000 shares of MacKenzie Company's 100,000 outstanding shares of common stock. MacKenzie Company pays $25,000 in total cash dividends to its shareholders. Marjam's entry to record this transaction should include a:
A. Credit to Equity Method Investments for $7,500. B. Credit to Equity Method Investments for $25,000. C. Credit to Dividend Revenue for $25,000. D. Credit to Interest Revenue for $25,000. E. Credit to Dividend Revenue for $7,500.
Godfrey is age 77. He paid $240,000 for a single life annuity contract that will pay him $28,800 per year for life. The taxable amount of the first $28,800 payment is
A. $7,371. B. $17,479. C. $8,965. D. $21,429.
McGuire Company acquired 90 percent of Hogan Company on January 1, 2019, for $234,000 cash. This amount is reflective of Hogan's total acquisition-date fair value. Hogan's stockholders' equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis of Hogan's net assets revealed the following: Book Value Fair ValueBuildings (10-year life)$10,000 $8,000 Equipment (4-year life) 14,000 18,000 Land 5,000 12,000 ??Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years.?The acquisition value attributable to the noncontrolling interest at January 1, 2019 is:
A. $23,400. B. $24,000. C. $20,000. D. $24,900. E. $26,000.