What is a Private Letter Ruling (PLR)? What tax authority is provided by a PLR?
What will be an ideal response?
The IRS issues a PLR when a taxpayer requests a ruling on a certain tax situation. The PLR is tax authority only to the taxpayer to whom it is issued.
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Brand awareness, brand equity, and brand loyalty are easier to develop when consumers are already familiar with the music used in an advertisement than when a new song, music, or jingle is written
Indicate whether the statement is true or false
In evaluating how well a company's strategy is working, the best place to start is with a
A. competitive strength analysis. B. financial ratio analysis. C. SWOT analysis. D. clear view of what that strategy entails. E. value chain analysis.
A person who disaffirms a contract based on intoxication must ________.
A. enter rehab for the disaffirmance to be enforceable B. be returned to the status quo C. petition the court in order for the disaffirmance to be valid D. be held to the terms of the contract
Lido Company's standard and actual costs per unit for the most recent period, during which 500 units were actually produced, are given below:??StandardActual?Materials:???Standard: 2 feet × $1.50 per foot$3.00??Actual: 1.9 feet × $1.60 per foot?$3.04?Direct labor:???Standard: 1.5 hours × $6.00 per hour9.00??Actual: 1.7 hours × $6.30 per hour?10.71?Variable manufacturing overhead:???Standard: 1.5 hours × $3.40 per hour5.10??Actual: 1.7 hours × $3.00 per hour_____5.10?Total unit cost$17.10$18.85All of the materials purchased during the period were used in production during the period.Required:From the foregoing information, compute the following variances. Indicate whether the variance is favorable (F) or unfavorable (U):a. Material price
variance.b. Material quantity variance.c. Labor rate variance.d. Labor efficiency variance.e. Variable overhead rate variance.f. Variable overhead efficiency variance. What will be an ideal response?