Money laundering involves three steps: The first involves introducing cash into the financial system by some means ("placement")
Answer:
D. subtractable as an itemized deduction.
Explanation:
Early withdrawal of savings from Certificates of Deposits (CODs), attracts interest penalties, which are sub-tractable as an itemized deduction.
Answer:
A) Charge a price that is greater than marginal cost to maximize profits.
Explanation:
The more market power a company has, the more it will tend to act like a monopoly. For example, Microsoft is not considered a monopoly because it is the only software company in the world, but because its market power in the PC business is so large that it dominates the industry.
Answer:
The bank reconciliation statement is as shown below:
Amount in $
Balance per bank statement 33,650.00
Deposit in transit 9,150.00
Outstanding check (17,865.00)
Bank charges 80.00
Note collected (6,095.00)
Returned check (540.00)
Check drawn <u> (630.00)
</u>
Book balance <u> 17,750.00</u><u> </u>
Explanation:
Deposit in transit has been recorded in the books, thus the addition to the bank balance. Bank charges have been deducted from the bank balance but not in the cash book hence it is added back. Note collected is yet to be recognized in the books hence the deduction from the bank balance.
Amount recorded from the check returned is more than the actual by $540 hence the deduction. The check drawn has been over charged by the bank to the tune of $630 hence the deduction.
The Share Value Commitment to be settled in shares and under no conditions will BuyCo be required to settle the Share Value Commitment in cash. BuyCo has concluded that it is more likely than not that the number of shares required to settle the Share Value Commitment will be less than 2 million. The Transaction closed on December 31, 20X1, at which time BuyCo legally obtained control over the purchased assets and assumed liabilities of SellCo. The fair value of BuyCo common stock was $1.85 per share on October 31, 20X1, $1.95 per share on December 31, 20X1, and $1.90 pe
