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Ray Of Light [21]
3 years ago
15

A taxpayer must receive voting common stock to be eligible for deferral in a Section 351 exchange. True False

Business
1 answer:
hodyreva [135]3 years ago
3 0

Answer:

True

Explanation:

Section 351 (a) establishes that no gain or loss should be recognized when property is transferred to a corporation:

  • in exchange of stock in that corporation (might receive common stock or share class stocks)
  • as soon as the exchange is complete, the new stockholder must be in control of the corporation.

Not all common stocks have the same voting rights, that is why they are divided into share classes which assign separate voting rights or powers. Section 351 does not include preferred stocks.

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Indirect materials include ______. multiple choice question. supervisor salaries salt and pepper laptop computer keyboards facto
Kobotan [32]

Indirect materials include <u>salt and pepper.</u>

<u></u>

<u></u>

<u></u>

What are indirect materials ?

  • Indirect materials are goods that, while part of the overall manufacturing process, are not integrated into the final product.
  • For example, disposable gloves, personal protective equipment, tape, etc., may be essential to a production line, but they are not part of the actual product created on that line.
  • When cost savings take priority, it’s important to control spending and compliance by using a unified source-to-pay (S2P) platform for indirect materials.
  • Among S2P platforms, cloud-native ones offer the best functionality: they are easy to set up, deploy, learn and use, and they offer real-time, end-to-end visibility.
  • Unlike indirect materials, direct materials are components that are integrated into a manufactured product.
  • For example, chips in a mobile phone are direct materials in mobile phone production.

To know more about indirect materials, refer:

brainly.com/question/14896549

#SPJ4

5 0
2 years ago
If you needed financial advice, whom would you ask? Why?
kap26 [50]

Answer: financial advisors

Explanation: A financial advisor can help you create a long-term investing strategy, weigh the pros and cons of different account types, pick mutual funds, rebalance your investing portfolio, and set savings benchmarks to help you reach your long-term goals.

Hope this helped

6 0
3 years ago
Accoints payable ledger contains all of the balance sheet and income tstatmeent accounts true or false
xeze [42]
False, only shows transactions and amounts owed.
3 0
3 years ago
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end,
nydimaria [60]

Answer: $186,000

Explanation:

January is the 2nd month from November which means that all of November's $31,000 will be collected in January.

January is the first month after December so 30% of December sales should be collected in January. 50% has already been collected in December and this left $50,000.

Total credit sales in December must have been:

= 50,000 / 50%

= $100,000

Amount to be collected in January for December:

= 100,000 * 30%

= $30,000

Amount to be collected from January credit sales:

= 50% * 150,000

= $75,000

January cash sales = $50,000

Total cash in January :

= 31,000 + 30,000 + 75,000 + 50,000

= $186,000

4 0
3 years ago
What involves preparing financial reports that provide information about the business's performance to external parties such as
lilavasa [31]

Answer: Financial Accounting

Explanation:

Financial accounting is the process of preparing financial reports which possesses the information for investors, creditors, employees and all the stakeholders of the company.

4 0
3 years ago
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