Which of the following federal taxes is not earmarked for a specific purpose?
A. Unemployment taxes
B. Transfer taxes
C. Employment taxes
D. All of the above are earmarked taxes.
Answer: B
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A corporation declared and issued a 20% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings$810,000?Shares issued and outstanding 66,000?Market value per share$21?Par value per share$5?The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:
A. $0. B. $(66,000). C. $(277,200). D. $66,000. E. $277,200.
An example of an effective I-statement is, "I think you are responsible."
Indicate whether the statement is true or false.
According to the text, the financial staff's role in the forecasting process is to:?
A. ?develop different assumptions for different departments. B. ?make sure that no biases are inherent in the forecasts. C. ?ensure that all the costs like sunk costs are included in the forecasting. D. ?set the sales price and coordinating marketing schemes for use by other departments. E. ?provide a rough estimate of cash flows as sophisticated techniques are available to check their accuracy.
Duval Inc. uses only equity capital, and it has two equally-sized divisions. Division A's cost of capital is 10.0%, Division B's cost is 14.0%, and the corporate (composite) WACC is 12.0%. All of Division A's projects are equally risky, as are all of Division B's projects. However, the projects of Division A are less risky than those of Division B. Which of the following projects should the firm accept?
A. A Division B project with a 13% return. B. A Division B project with a 12% return. C. A Division A project with an 11% return. D. A Division A project with a 9% return. E. A Division B project with an 11% return.