Given equal circumstances, which inventory method probably would be the most time consuming?
a. Specific identification
b. FIFO
c. Average-cost
d. LIFO
A
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West Corporation purchased 15,000 shares of Luffy Corporation common stock for $60 per share on January 2, 2009 . Luffy Corporation reported net income of $1,500,000 for 2009 and paid dividends of $300,000 during 2009 . Luffy has a total of 50,000 shares of common stock outstanding. The entry that would be recorded to recognize the income is:
a. Cash 90,000 Dividend Income 90,000 b. Investment in Luffy Corporation 450,000 Income, Luffy Corporation Investment 450,000 c. Dividend Income 450,000 Cash 450,000 d. Investment in Luffy Corporation 450,000 Cash 450,000
What is a claim letter? List a few guidelines to be followed when writing a claim letter
What will be an ideal response?
Tim purchased a 10-payment whole life insurance policy 15 years ago. Tim would like to donate this paid-up policy to a charity. Under which policy provision can Tim transfer all ownership rights in the policy to the charity?
A) absolute assignment B) extended term nonforfeiture option C) reinstatement D) collateral assignment
In the Anna Nicole Smith will contest, what was the basis for Ms. Smith's recovery of millions following a trial?
A)?She was able to show that her deceased husband lacked capacity to execute a will and she, as a surviving spouse, was entitled to her community property share B)?Tortious interference with expectation of inheritance C)?That she had engaged in undue influence D)?That there were no surviving heirs