Answer the following statement(s) true (T) or false (F)
Statistics is used in the following fields: psychology, anthropology, and education.
ANS:T
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The expense associated with an uncollectible account is recognized when it has been determined that a customer will not pay the amount owed under the
a. aging method; b. direct write-off method; c. allowance method; d. all of these; e. none of these.
The ________ conducted a study addressing what public organizations need to know in order to act effectively and responsibly.
A) U.S. Office of Personnel Management B) U.S. Office of Management & Budget C) U.S. Office of Special Counsel D) U.S. Department of Education
The level of the Project Management Maturity Model where the focus is on continuous improvement through incremental advancements of existing practices and by innovations using new technologies and methods is called ________ of project management system.
Fill in the blank(s) with the appropriate word(s).
Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Pam wants to reduce her ownership in the company, and it was decided that the company will redeem 50 of her shares for $1,000 per share on December 31, 20X3. Pam's income tax basis in each share is $500. Comet has total E&P of $250,000. What are the tax consequences to Pam because of the stock redemption?
A. $50,000 dividend and a tax basis in each of her remaining shares of $100. B. $50,000 dividend and a tax basis in each of her remaining shares of $50. C. $25,000 capital gain and a tax basis in each of her remaining shares of $100. D. $25,000 capital gain and a tax basis in each of her remaining shares of $500.