Answer:
C. Buddy cannot be a creditor of the corporation after the redemption.
Explanation:
"A stock redemption that terminates a shareholder’s entire stock ownership in a corporation will qualify for sale or exchange treatment under § 302(b)(3). The attribution rules generally apply in determining whether the shareholder’s stock ownership has been completely terminated. However, the family attribution rules do not apply to a complete termination redemption if the following conditions are met:
The former shareholder has no interest, other than that of a creditor, in the corporation for at least 10 years after the redemption (including an interest as an officer, director, or employee).
The former shareholder files an agreement to notify the IRS of any prohibited interest acquired within the 10-year period and to retain all necessary records pertaining to the redemption during this time period."
Reference: South-Western, Thomson. “Chapter 5.” To Qualify for Sale or Exchange Treatment, a Stock Redemption Generally Must Result in a Substantial Reduction in a Shareholde, 2005,
Answer:
B. Payroll record
Explanation:
Payroll record is a record in an organization showing the list of employees in that organization along with payments due to every employee in the organization for a specific pay period. It shows the number of hours worked, average pay rates, and deductions for each employee present in the organization. From the description detailed in the question, the record described is most likely a payroll record. In summary, it's a documentation showing under what criteria are the employees of an organization paid.
Answer:
No, the park must not accommodate his request
Explanation:
Employees of any organization are usually given a letter of appointment which states amongst other things, the requirements of the place of employment.
Wally world has clearly stated that working on weekends is a company REQUIREMENT.
So Alex going to Church on Sunday which is his preference should not stop him from fulfilling his work place requirement
Answer:
The answer is d. Interest payable of $2,500; interest expense of $2,000
Explanation:
Interest component over 2 years = $84,000- $80,000 = $4000
interest expense for a year = 4000/2 = $2000
Interest payable = 1.25 years * 2000 = $2500
Answer: The correct answer is a. true.
Explanation: If there is a supply glut and demand is falling, there will definitely be a fall in price. The same principle applies if Organization of Petroleum Exporting Countries (OPEC) disagree to cut production, price for domestic crude oil would fall.
The scenario above is similar to the recent happenings regarding the impacts of coronavirus on global economy and is very fresh in our memories. According to the TheNation Newspapers, "oil prices tanked more than seven per cent at the weekend to their lowest levels since mid-2017 after Russia balked at OPEC's proposed steep production cuts to stabilize prices."
OPEC is proposing a cut in oil production, but if this is not done, the impact on Brent would be devastating as the price would fall further.
