Answer:
Since on distribution on complete liquidation to shareholder will taxable on both hand (company and shareholdeR) .shareholder will pay tax on FMVless adjusted basis and corporate will pay tax on gain (FMV-adjusted basis of asset ).
since taxability in both hands will result in double taxation ,any gain/loss will be taxed in shareholders hand and corporate tax liability will be minimal'
so correct option is "D" -no gain recognised.
Answer: Increase and Unchanged
Explanation:
Given that,
Veronica withdraws = $1,500 from her savings account
then deposit this amount into her checking account.
M1 contains:
M1 = currency with public + checkable deposits + other deposits with RBI
M2 Contains:
M2 = M1 + post office savings account
Veronica withdraws $1,500 from savings account, so M2 decreases by $1500. Then, she deposited this amount into her checking account as a result M1 increases by $1,500 and M1 is a component of M2, so M2 also increases by $1500.
The conclusion of this transaction is that M1 increases by $1500 and there is no change in M2.
Answer:
d. globalization
Explanation:
-Industrialization is the process of transforming an economy to focus on the manufacturing activity.
-Neoliberalization is a process that has the goal of transfering control of the economic factors to the private sector and it involves: free market trade and fewer regulations in the financial markets.
-Migration refers to the movement of people from one place to another one to work and live.
-Globalization is the process in which technology, information, people, jobs are shared through borders and it has generated more integration between people and cultures around the world.
According to this, the process that has intensified the exchange and diffusion of people, ideas, and goods worldwide, creating more interaction and engagement among cultures is globalization.
Answer:
Debit Cash $110,000
Credit Land $100,000
Credit Gain on sale $10,000
Explanation:
On January 15, the partnership sold the land for $110,000, that is more than its cost of $100,000. In effect, the sale will result to a gain of $10,000 ($110,000 - $100,000). To record the said transaction, we must debit the cash that the partnership received in the amount of $110,000 and credit land $100,000 to remove it from the book and another credit to gain on sale in the amount of $10,000 to recognize the favorable sale.
