A credit union that obtains a federal charter obtains its charter from which government agency?
A. The Federal Savings and Loan Insurance Corporation
B. The National Credit Union Administration
C. The Federal Deposit Insurance Corporation
D. The Office of the Comptroller of the Currency
Answer: B
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Outdoor Outfitters Store contracts to buy fifty tents from Pitched Camp, Inc Unless the contract states otherwise, it is assumed to be
a. none of the choices. b. a destination contract. c. a shipment contract. d. a delivery ex-ship.
Cruel and unusual punishment, in its constitutional law sense, does not refer to which of the following?
a. prison sentences that are disproportionately long b. cruelty inside prison walls c. cruel methods of punishment, such as flashing lights and dripping water in a jail cell d. erroneous punishment of innocent persons
Trial courts at both the federal and state level are called courts of original jurisdiction
a. True b. False Indicate whether the statement is true or false
Postage Corporation receives management consulting services from its 92 percent-owned subsidiary, Stamp Inc. During 20X7, Postage paid Stamp $125,432 for its services. For the year 20X8, Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end. Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8. Postage reported $2,567,000 of income from its own separate operations for 20X8, and Stamp reported net income of $695,000.Based on the preceding information, what amount of income should be assigned to the noncontrolling shareholders in the consolidated income statement for 20X8?
A. $44,400 B. $55,600 C. $60,000 D. $47,700