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JulsSmile [24]
3 years ago
8

Village Corp., a calendar year corporation, began business in year 1. Village made a valid S corporation election on December 5,

year 4, with the unanimous consent of its shareholders. The eligibility requirements for S status continued to be met throughout year 5. On what date did Village's S status become effective?
a. January 1, year 4

b. January 1, year 5

c. December 5, year 4

d. December 5, year 5
Business
1 answer:
sveticcg [70]3 years ago
6 0

Answer:

The correct answer is letter "B": January 1, year 5.

Explanation:

The S corporation election must be made by the <em>15th day of the third month of the taxable year</em> <em>to be valid for the current taxable year</em>. If the election is made after that date, it will take effect on the first year of the next taxable year. Since Village Corp. changed into S corporation on December 5th, year 4, Village's S status will begin on January 1st, year 5.

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In Clemens v. McNamee, major league pitcher Roger Clemens sued McNamee, a trainer, over McNamee's statements to investigators an
schepotkina [342]

The court decided in favor of the McNamee because he did not have sufficient minimum contacts to establish personal jurisdiction, since Texas was not the focal point of the story.  

Explanation:

The court gave his final decision in favor of McNamee. Clement has not received decision in favor of his though he suffered from distress and damage of his reputation in Texas. McNamee illustrated that he gave steroids to Clements who was an Texas citizen

Mc Namee was a citizen of New York. He did not have sufficient minimum contacts to establish personal jurisdiction. McNamee was a trainer. According to the national magazine there was no such detail of defamation was provided.

5 0
3 years ago
History of management thought (Connect, Perform)
fgiga [73]

Answer: 1. 1. By studying patterns that recur in different eras, he can see what management tools will work best in his company's environment.

2. Social

Explanation:

1. It is often said that without knowing where we've been, we cannot know where we are going. This is why History in a general sense is important, it enables us know how things were done in the past so that we may know how to do things now. Specifically to Management, when the CEO studies the history of Management, he can see where Management has been, he can see what strategies have worked and which happens and in what conditions those strategies worked. After studying these patterns and strategies, he can then figure out how best to manage his current Environment based on those.

2. Social change refers to how the Environment of a Variable has changed in terms of what is expected of the people in it. What new norms or Cultural practices are now held in high regard as opposed to previous times.

Millennials have different values from those of the previous generations which means that there has been a Social Change that managers have to adapt to in order to be able to best achieve Organizational goals.

3 0
3 years ago
An increase in the price of hot dogs from $1.50 to $2.10 per pound increased the average number of burgers demanded per week fro
timama [110]

Answer:

0.5

They are substitute goods.

Explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

Percentage change in quantity demanded of burgers = (360 - 300) / 300 = 0.2 = 20%

Percentage change in price of hot dog = (2.10 - 1.50) / 1.5 = 0.4 = 40%

Cross price elasticity of demand = percentage change in quantity demanded/ percentage change in price

20 / 40 = 0.5

Elasticity of demand is less than 1, so demand is inelastic.

Also, the cross price elasticitiy is positive, so the goods are substitutes goods.

I hope my answer helps you

7 0
3 years ago
George purchased a life annuity for $3,200 that will provide him $80 monthly payments for as long as he lives. Based on IRS tabl
IRISSAK [1]

Answer:

$48

Explanation:

Data provided in the question:

Life annuity = $3,200

Monthly payments = $80

George's Life expectancy = 100 months

Now,

The annuity exclusion ratio = \frac{\textup{Life annuity }}{\textup{Life expectancy}}

or

The annuity exclusion ratio = \frac{\textup{3,200}}{\textup{100}}

or

The annuity exclusion ratio = $32

Therefore,

Return on capital per payment = $32

Hence,

The amount of the first $80 payment will George include in his gross income = $80 - $32

= $48

8 0
3 years ago
If the owner of a jewelry store who normally purchased diamonds from a diamond brokerage firm were to open his own diamond broke
Rainbow [258]

Answer:

False

Explanation:

Forward Vertical Integration occurs when a company acquires one of its suppliers.

In this case, we do not have an example of forward vertical integration because the owner of the jewerly store did not purchase the supplier: the diamond brokerage firm. He instead opted to start his own brokerage firm.

The case in the question is an example of forward vertical integration, that occurs when a company moves along the supply chain by starting its own subsidiares instead of buying existing ones.

3 0
3 years ago
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