"d/b/a" means "domestic business association" and is suggested for partnership use for clarity
Indicate whether the statement is true or false
False
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In 2010, Tru Corporation deducted $5,000 of bad debts. It received no tax benefit from the deduction because it had an NOL in 2010 that it was unable to carry back or forward. In 2011, Tru recovered $4,000 of the amount due.a)What amount must Tru include in income in 2011?b)What effect does the $4,000 have on E&P in 2011, if any?
What will be an ideal response?
An organization typically develops a values statement before developing a mission statement
Indicate whether the statement is true or false
In July 2018, the Papa John's pizza chain decided to distance itself from John Schnatter, its founder and pitchman, after it was reported that he had used a racial slur in a comment about black people. Mr. Schnatter apologized and resigned as chairman. The company said Mr. Schnatter's image, a fixture on its marketing materials, would be removed as the "first of several key steps to rebuild trust from the inside-out." Papa John's suddenly faced the tricky task of disentangling itself from its founder and convincing its customers and investors to move on, and also began considering whether or not to rebrand itself. Papa John's strategy needs to be ethical because
A. of the inevitable risks of being boycotted by customers of major corporate affiliates including Major League Baseball and the National Football League if an unethical strategy is used. B. of the dangers that Papa John's top management will become embarrassed if the company does not take action. C. unethical strategies boost long-termism in corporate culture. D. it is good business and in the best interest of shareholders. E. everyone in the media is an ethics watchdog and somebody is sure to blow the whistle on the company's unethical behavior.
Cedar Designs Company, a custom cabinet manufacturing company, is setting standard costs for one of its products
The main material is cedar wood, sold by the square foot. The current cost of cedar wood is $4.00 per square foot from the supplier. Delivery costs are $0.20 per square foot. Carpenters' wages are $20.00 per hour. Payroll costs are $3.00 per hour, and benefits are $6.00 per hour. How much is the direct labor standard cost per hour? A) $20.00 B) $9.00 C) $23.00 D) $29.00