Answer:
$300,000
Explanation:
Calculation to determine How much current taxable income must Lincoln report as a result of its ownership of the CFC
Using this formula
Taxable income=Subpart F income * Ownership percentage
Let plug in the formula
Taxable income=$600,000*50%
Taxable income=$300,000
Therefore The amount of current taxable income that Lincoln must report as a result of its ownership of the CFC is $300,000
Answer:
A chef
Explanation:
The chef would be the person to plan menus and to instruct staff on description; serving styles, and ways drinks to complement the menu.
Answer:
C.
Explanation:
Based on the scenario being described within the question it can be said that in this circumstance the note is not negotiable because the note states the reason for the debt. Since the reason it stated it proves as to why the money needs to be paid to the individual and must therefore be paid in full on the date that has been listed.
Answer: over-borrowing.
Explanation:
credit cards function like this: you can "buy" a lot of things with it, including very very expensive things. this is because instead of really buying that product, you borrow money from the bank to buy it. you then have to pay it off in slower amounts of money over time until youve paid off the original cost of the product and more because the bank will most likely charge interest.
sounds great, right?
it is, until you cant afford to pay those smaller amounts of money. then, it starts to build up and if you still cant afford to pay the bank, they will begin to liquidize your physical assets (they take your stuff as payment, really anything, even your house can be taken.)
