Which of the following companies would LEAST likely form sales territories?
A. Proctor & Gamble
B. Hewlett Packard
C. Century-21 Real Estate
D. Anheuser Busch
E. McGraw-Hill Publishing
Answer: C
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Tyler Company, which began operations at the beginning of 2018, has provided you with the following information:GAAP (book) income before taxes was $1,600,000 during 2018 and $2,000,000 during 2019.
Municipal bond interest of $40,000 was earned in both 2018 and 2019. Depreciation expense for tax purposes exceeded depreciation for GAAP (book) purposes by $180,000 during 2018 and by $150,000 during 2019. The depreciation temporary difference created during 2018 and 2019 will reverse equally during the next three years (2020-2022). A three-year insurance policy costing $54,000 was purchased using cash at the beginning of 2018. The policy was deducted in the income statement equally for each year of the policy. The amount allowable as a deduction for tax purposes of $24,000 was taken in 2018, and $15,000 will each be deducted in 2019 and in 2020. Revenues of $600,000 from various long-term construction contracts was recognized for GAAP (book) purposes during 2018. For tax purposes, $100,000 of those revenues were recognized during 2018, the remaining revenues will be recognized equally during 2019 and 2020. During 2019, a customer paid $325,000 in advance for services to be provided during 2019 and 2020. Services valued at $120,000 were provided during 2019. The income tax rate was 35% during 2018 and 2019 and 40% for all subsequent years. Requirements: Determine taxable income for 2018. Prepare the journal entry to record income tax expense for the year ended December 31, 2018. Determine taxable income for 2019. Prepare the journal entry to record income tax expense for the year ended December 31, 2019. What will be an ideal response?
________ is a term that denotes the return of goods or property received from the other party to undo a contract
A) Rescission B) Recession C) Restitution D) Retribution
Which of the following best describes Habitat for Humanity's solicitation approach?
a. Use both web and mailed requests for donations. b. Use the web only for providing information, and the mail for requesting donations. c. Replace all mailed donation requests with web requests. d. Use only face-to-face contacts to request donations.
A sequence of organizations that directs a product from the producer to the ultimate user is called a(n) _____.
A. intermediary network B. catalog discount showroom C. transporter D. distribution channel E. distributorship