Cancer insurance
A)
is high-cost insurance that makes little financial sense.
B)
can fill an important gap in traditional health care coverage.
C)
is specifically provided young adults under special provisions in the Medicare program.
D)
should be supplemented by additional policies covering other major illnesses.
A
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The amount in the Dividends account should be carried over from the adjusted trial balance of the 10-column work sheet to which of the following columns?
a. Income statement as a debit b. Income statement as a credit c. Balance sheet as a debit d. Balance sheet as a credit
Consumers often use the prices of ________ items, such as a can of Coke, to form an overall impression of the store's prices.
A. point-of-purchase B. benchmark C. stoplight D. value-based E. loss-leader
Chris is the CEO of Chris’s Finest Soda. Chris’s only product for the past 5 years has been Mountain True Soda. Over the past year, however, Mountain True sales have stalled for the first time. Chris decides to add a cherry flavoring to the Mountain True Soda and is calling the soda Cherry Mountain True. This be an example of what type of innovation?
A. people B. exploratory C. exploitative D. process
Parent Corporation owns 100% of the stock of Subsidiary Corporation. The adjusted basis of its stock investment is $100,000. A plan of liquidation is adopted. Subsidiary distributes to Parent assets with a $325,000 FMV and a $275,000 adjusted basis. Subsidiary also distributes liabilities in the amount of $40,000. Subsidiary has a $150,000 E&P balance.a) What is the amount and character of Subsidiary Corporation's recognized gain or loss on the distribution?b) What is the amount and character of Parent Corporation's recognized gain or loss on the redemption of the Subsidiary stock?c) What basis does Parent take in the assets?d) What happens to parent Corporation's basis in the Subsidiary stock and to Subsidiary's tax attributes?
What will be an ideal response?