Consider the following statements about budgetary slack:I.Managers build slack into a budget so that they stand a greater chance of receiving favorable performance evaluations.II.Budgetary slack is used by managers to guard against uncertainty and unforeseen events.III.Budgetary slack is used by managers to guard against dollar cuts by top management in the resource allocation process. Which of the above statements is (are) true?
A. I only.
B. II only.
C. I and II only.
D. II and III.
E. I, II, and III.
Answer: E
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Viking Corporation is owned equally by Sven and his wife, Olga, each of whom hold 100 shares in the company. Viking redeemed 75 shares of Sven's stock for $2,000 per share on December 31, 20X3. Viking has total E&P of $500,000. What are the tax consequences to Viking because of the stock redemption?
A. No reduction in E&P because of the exchange. B. A reduction of $150,000 in E&P because of the exchange. C. A reduction of $375,000 in E&P because of the exchange. D. A reduction of $187,500 in E&P because of the exchange.
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a. True b. False Indicate whether the statement is true or false
Sergio generally makes cold calls on businesses to look for new prospects. He has many satisfied customers, but like many salespeople, he does not frequently utilize one of the best ways to find new prospects, which is through
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