It is the detailed record of all the changes in a specific asset, liability, or stockholder's equity item as a result of transaction. Hope this helps!
Answer:
correct answer is Option D
Explanation:
Option D - elastic, and the demand curve will be horizontal.
The quantity would be changed infinitely with a samll change in the the price. It means that demand is perfectly elastic and the curve is horizontal as the small change up decreases the quantity to zero and small change down increases the quantity infinity. Thus, option D is the correct ams of this questionwer
Answer:
In simple words, Retired, incapacity, as well as survivor payments are all part of the Social Security program. In its nature, it is very much like a defined benefit pension plan.
Most employees contribute Social Security levies on their income to apply for many of these claims; claimants' advantages are dependent on the wages earner's payments. Aside from that, benefits like Supplemental Security Income (SSI) are dependent on use.
Answer:
C. Buddy cannot be a creditor of the corporation after the redemption.
Explanation:
"A stock redemption that terminates a shareholder’s entire stock ownership in a corporation will qualify for sale or exchange treatment under § 302(b)(3). The attribution rules generally apply in determining whether the shareholder’s stock ownership has been completely terminated. However, the family attribution rules do not apply to a complete termination redemption if the following conditions are met:
The former shareholder has no interest, other than that of a creditor, in the corporation for at least 10 years after the redemption (including an interest as an officer, director, or employee).
The former shareholder files an agreement to notify the IRS of any prohibited interest acquired within the 10-year period and to retain all necessary records pertaining to the redemption during this time period."
Reference: South-Western, Thomson. “Chapter 5.” To Qualify for Sale or Exchange Treatment, a Stock Redemption Generally Must Result in a Substantial Reduction in a Shareholde, 2005,
Answer:
C. conservatism
Explanation:
The lower of cost or market basis of valuing inventories is an example of conservatism. This term refers to trying to anticipate possible future losses, instead of gains and making certain decisions in order to limit those losses. Which some decisions may include lowering costs and/or prices in order to sell more and cover those potential losses.
