Answer: Option E
Explanation: A perfectly competitive company is known as a price-taker, because the competition of competing firms causes them to embrace the prevailing market price of equilibrium.
If a company raises the price of its product by as much as a penny in a perfectly competitive structure,then it will lose all of its sales to other firms. In such structures the prices are determined by the marker forces of demand and supply.
Hence from the above we can conclude that the correct option is E.
Answer:
1. Method(s) available to the parent for internal record-keeping - (A) Initial value method
2. Easiest internal record-keeping method to apply. - (F) Initial value method, partial equity method, and equity method.
3. Income of the subsidiary is recorded by the parent when earned. - (E) Partial equity method and equity method but not initial value method.
4. Designed to create a parallel between the parent's investment accounts and changes in the underlying equity of the acquired company. - (C) Equity method.
5. For years subsequent to acquisition, requires the *C entry. - (B) Partial equity method.
6. Uses the cash basis for income recognition. - (D) Initial value method and partial equity method but not equity method
7. Investment account remains at initially recorded amount. - (C) Equity method.
8. Dividends received by the parent from the subsidiary reduce the parent's investment account. - (E) Partial equity method and equity method but not initial value method.
9. Often referred to in accounting as a single-line consolidation. - (A) Initial value method
10. Increases the investment account for subsidiary earnings, but does not decrease the subsidiary account for equity adjustments such as amortizations - (A) Initial value method
Answer:
The correct answer is letter "A": A general partnership is dissolved any time there is a change in the partners.
Explanation:
General partnerships take place when two or more parties come together to establish business activities. All the parties are equally liable for the organization's obligations. In front of a change in the parties -add or remove, there is a legal dissolution of the partnership. The retirement or pass-away of one of the members of the partnership or the introduction of a new member to the board are common causes of the dissolution of a general partnership.
Christina's deductible loss on the sale of 70 shares is $0 and her basis in the 70 new shares is $4,340.
<h3 /><h3>Deductible loss</h3>
a. Her deductible loss will be $0 because no deductible loss.
b. Basis in the new shares
Loss=3,850-(8,400×70/140)
Loss=3,850-(8,400×0.5)
Loss=3,850-4,200
Loss=350
New shares basis =350+ 3,990
New shares basis =350+3,990
New shares basis =$4,340
Inconclusion Christina's deductible loss on the sale of 70 shares is $0 and her basis in the 70 new shares is $4,340.
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Answer is A starting from the pass
