If a nontaxable stock dividend is received and is not the same type of stock as that owned before the dividend, the original stock's basis is allocated to all shares
A) based on the par value of the stock.
B) equally to all shares owned after the stock dividend.
C) based on relative fair market values at the time of the stock dividend.
D) None of the above.
C) based on relative fair market values at the time of the stock dividend.
If the stock received as a stock dividend is not the same type as the stock owned before the dividend, the allocation is based on relative FMVs.
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A benefit that cloud computing provides to individual users is that it:
A. allows them to access their data from any computer without an Internet connection. B. eliminates the threat of unauthorized access. C. helps them analyze and process complex data without professional help. D. allows them to store large files without taking up valuable space on their computers' hard drive.
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours30,000Total fixed manufacturing overhead cost$252,000Variable manufacturing overhead per machine-hour$2.10Recently, Job T687 was completed with the following characteristics:Number of units in the job10Total machine-hours30Direct materials$675Direct labor cost$1,050The unit product cost for Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $172.50 B. $99.00 C. $204.00 D. $68.00