Question Double taxation is a disadvantage of a corporation because the corporation has to pay income taxes at twice the rate applied to partnerships. true or false

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Question
Double taxation is a disadvantage of a corporation because the corporation
has to pay income taxes at twice the rate applied to partnerships.

true or false

 
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What are the nature and amount of Melaney’s losses? Property

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a. What are the nature and amount of Melaney’s losses?
Property
Type of Gain or Loss
Amount Before
Any Limitations
a.
Uncollectible loan
to friend
Long-term capital loss X
22,000
X
b
Worthless Oak
corporate bonds
Ordinary loss X
50,000
X
C.
Loss on $ 1244
corporate stock
Long-term capital loss X
10,000
X
b. What is Melaney’s AGI for 2019 assuming that she has $65,000 of ordinary gross income from sources other than those discussed?
12,000
c. What are the nature and amount of Melaney’s loss carryforwards?
She has $
5,000
in short-term capital loss carryforward and $
32,000
in long-term capital loss carryforward.

 
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The following information applies to the questions displayed below.

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The following information applies to the questions displayed below.]

 

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follows:

 

Raw materials$77,500Work in process$32,800Finished goods$34,800

 

The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company’s predetermined overhead rate of $12.75 per direct labor-hour was based on a cost formula that estimated $510,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:

 

  1. Raw materials were purchased on account, $654,000.
  2. Raw materials use in production, $618,800. All of of the raw materials were used as direct materials.
  3. The following costs were accrued for employee services: direct labor, $460,000; indirect labor, $150,000; selling and administrative salaries, $270,000.
  4. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $417,000.
  5. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $360,000.
  6. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
  7. Jobs costing $1,539,250 to manufacture according to their job cost sheets were completed during the year.
  8. Jobs were sold on account to customers during the year for a total of $3,172,500. The jobs cost $1,549,250 to manufacture according to their job cost sheets.

rev: 09_28_2018_QC_CS-140681

10. What is the cost of goods available for sale during the year?

 
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Hickory Company manufactures two products—13,000 units of Product

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Question

Hickory Company manufactures two products—13,000 units of Product

Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $729,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:

Activity Cost PoolActivity MeasureEstimated Overhead CostExpected ActivityMachiningMachine-hours$231,60012,000MHsMachine setupsNumber of setups$55,900130setupsProduct designNumber of products$77,0002productsGeneral factoryDirect labor-hours$364,50014,400DLHs

Activity MeasureProduct YProduct ZMachine-hours6,3005,700Number of setups4090Number of products11Direct labor-hours9,0005,400
rev: 03_28_2018_QC_CS-122670
12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? (Round your “Percentage” answers to 2 decimal places.)

 
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Beverly has a warehouse and sales office in the Gulf Coast Region.

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Beverly has a warehouse and sales office in the Gulf Coast Region.

The damage caused by Hurricane William (Hurricane), a Category 5 hurricane, has rendered the warehouse inoperable and has also forced the company to rent temporary office space in Houston to accommodate its sales force. Beverly reached a settlement with its insurance carrier related to the damage from the hurricane and received proceeds of $15 million from its insurance carrier in connection with its claim for reimbursement. Beverly plans to use the insurance proceeds to fund its defined-benefit pension plan, rather than to rebuild the destroyed facility.

Required:

a. Determine the appropriate cash flow statement treatment — classification (e.g., operating, investing,
financing) — for the above transactions.

b. What international accounting standard (IFRSs) applies to cash flow statement presentation?
In general, how do those guidelines compare to U.S. GAAP in these particular situations?

 
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ounding region and intends to complete construction and open each of the new stores over the next three years.

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Question

1. ounding region and intends to complete construction and open each of the new stores over the next three years. As a result of this growing need to obtain new, readily available capital, Beverly entered into a three-year revolving line of credit (the “Facility”) with its bank on January 1, 2010. The line of credit has a maximum borrowing capacity of $100 million.

Required:
1a. Should Beverly present the borrowing and payment activity related to its revolving line of credit as
cash flows from operating, investing, or financing activities for the year ended December 31, 2010?
1b. Based on the following facts and circumstances, determine whether Beverly should present its
borrowing and payment activity under the Facility on a net or gross basis within the financing
activities section of its statement of cash flows for the year ended December 31, 2010.
• The line of credit has a maximum borrowing capacity of $100 million, and
under the terms of the agreement, all draws are considered to be due on demand.

• On July 15, 2010, Beverly drew $60 million on the Facility.

 
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Terrorism and Counterterrorism

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The 1916 Easter Rising is associacted with what group? The IRA
2. According to Bernard Lewis, the Middle East is not a geographical region. T or F True
3. According to Islam, Mohammed was born in which city? Mecca
4. According to _______, terrorists seldom behave like normative street criminals. D. Douglas Bodrero
5. According to the text, in what year was Mohammed born? 570 AD
6. According to the text, ____ is the only group that has made an effort to obtain a nuclear device. Al Qaeda
7. According to the text, the definition of ______ changes with social and historical circumstances. anarchism
8. According to the text, the _____ have conducted more suicide bombings than any other group. LTTE Black Tigers
9. After the September 11 attacks, the federal government immediately budgeted $4.8 billion to protect the _____ industry aviation
10. Alienation is the process that changes a person’s socially acceptable behavior into terrorism. T or F False
11. Al Jazeera is Lebanon’s national television network. T or F True
12. All countries have prospered through globalization. T or F False
13. Although most of the country is in Asia, _____ was accepted as a partner in NATO Turkey
14. Although theological divisions with Sunnis would eventually arise and the Shi’ites themselves would split into competing sects, the first division in Islam was political. T or F ?
15. Ambiguity strengthens the ability to create a sustainable news frame. T or F False
16. American television reports on terrorism are highly objective. T or F ?
17. _____ and ______ are the primary influences upon single-event terrorists such as suicide bombers. Ideology, religion
18. Anthrax is considered a bacteria
19. Any virtual network that allows communication is known as: New Media
20. The ____ are ethnic Turkmen, mostly Sufi Muslims, and they have lived in and governed parts of Xinjiang province for 200 years. Uighurs
21. ____ are not fighting an international jihad for a caliphate? they want independence. ?
22. As the world moves closer to a global economy, terrorists have found that striking _____ increases the effectiveness of operations. economic targets
23. _______, as used by John Horgan, refers to the psychological and social factors that motivate people to join and remain in terrorist groups. Routes to terrorism
24. ____ attacks are susceptible to antibiotics. Bacterial
25. Beijing claims that ___ is/are attempting to overthrow Chinese rule in Xinjiang province and establish an Islamic state. International jihadists
26. The Black and Tan War is associated with which organization? The IRA
27. The British began creating the modern nation of Nigeria in ____ when they assumed control of the area’s coast. 1845
28. Censorship, regulation, and gathering data from communication threaten the basis of democracy. T or F False
29. Che Guevara designed practical guides for small urban terrorism. T or F True
30. The classic approach in television is the reporting frame. True
31. Concealing the source of illegal income in confusing, sometimes multiple financial actions is known as: layering
32. Congress mandates that all radioactive waste from America’s nuclear power plants be transported to a repository in what state? Nevada
33. Criminals become involved in terrorist groups for economic gain, and they have a low level of commitment to a cause. T or F False
34. _____ criminology focuses on the common actions of lawbreakers. Practical
35. The Cuban Revolution did not create guerilla warfare. T or F True
36. The current struggles in Ireland largely started in 1969 when riots broke out in Londonderry and Belfast after the annual Apprentice Boys parade. T or F ?
37. Daly says that the Taliban believes that the most effective way to destroy the Pakistan government is to attack economic targets
38. The definition of terrorism fluctuates according to the interests of the group defining the term. T or F True
39. The definition of terrorism is not only produced from various social constructs, but also developed through the application of ____: Political power
40. The domestic terror bombing in Oklahoma City occurred in: 1995
41. ______ do not support centralized control of the economy. Anarchists
42. Ebola virus is considered a _____. Hemorrhagic fever
43. Economic support for terrorism always involves money. T or F False
44. The Economists reports that terrorism is _______ in terms of the causalities and destruction terrorist events cause. Cost-effective
45. _____ enter the body through ingestion, respiration, or contact. Nerve agents
46. The ETA ceased all activity throughout Europe False
47. The ETA death squads evolved into Anti-terrorist Liberation Group (GAL) true
48. ETA terrorism was at its peak in the 1960s True
49. Ethnic terrorists are usually more nationalistic than their religious counterparts. T or F True
50. Ethnic terrorists try to forge a(n) ______________ identity National
51. The Euskadi Ta Askatasuna (ETA) is Europe’s longest surviving ethnic conflict. T or F True
52. The first talk of anti-money laundering statutes began to appear in the 1970s, and it was finally outlawed in 1986. T or F True
53. The followers of Ali are known as Sunnis T or F False
54. Following the split of the Islamic faith, the family of ____assumed control of the Islamic movement and ruled the first Arab empire. Uthman
55. Gender-Biased reports do not weaken our ability to respond to terrorism. T or F False
56. Globalization has facilitated a global underground economy – providing for illegal trade routes for drugs, arms smugglers, contraband dealers, and human traffickers. T or F True
57. Guerilla tactics were used throughout the Napoleonic Wars. T or F True
58. Guerilla warfare originated in Spain. T or F True
59. Gulf states include only those Arab kingdoms bordering the Dead Sea. T or F False
60. Habub Akdas established al Qaeda in Turkey
61. HEU stands for ____. Highly enriched uranium
62. Hezbollah and Hamas use the Latin American drug trade to raise funds. T or F True
63. If calculated by the sheer number of attacks, separatists present more of a threat to Europe than any other form of terrorism. T or F ?
64. In 1949, Xinjiang province was ____ Uighur, but it may be less than 50 percent today. 90 percent
65. In 1969, Colonel Muammar Gadhafi seized power in a military coup, claiming Libya as an anti-Western socialist state. T or F True
66. In 2003, Al Qaeda began targeting oil facilities in what country? Saudi Arabia
67. The ______ in eastern Turkey conducted the least deadly attacks in the course of modern suicide bombing, killing an average of two people per incident. ?
68. The initial split of the Islamic faith into the Sunnis and Shi’ites was based on the issue of _______. Leadership
69. In terms of terrorism, law enforcement agencies, intelligence organizations, and military forces need to take a practical criminological approach to terrorism. T or F True
70. The internet has no real impact on news coverage, and generally does not offer any more information than that of the established media in reporting an event. T or F False
71. ____ is 99 percent Muslim and was the home of the last caliphate. Turkey
72. A _____ is a collection of particular people who are attacked by terrorist simply because they belong to a particular unit. group target
73. ____ is a tradition of orthodox Muslims who follow the Prophet and the early elders of the faith. Salafism
74. _____ is considered a founding father of criminology. Cesare Beccaria
75. ____is considered a non-contagious bacterial infection. Anthrax
76. Ismalis believe that there were twelve Imams who followed Mohammed. T or F True
77. ____ is the site of a battle between the Muslims of Medina and the merchants of Mecca in 624. Baadr
78. It is hard to trace some money because it is hidden in underground networks. T or F True
79. It is popularly believed that the term money laundering first appeared in the 1920s. T or F True
80. J. Bowyer Bell refers to _______ terrorism, which is a form of violence that occurs in Africa where arbitrary national boundaries have been drawn through ethnic and tribal divisions. endemic
81. Leaders of the Irgun studied and incorporated the tactics of Marighella. T or F ?
82. Lone wolves represent the most complex form of terrorism. T or F True
83. Luckily for counterterrorist forces, terrorists do not comprehend the power of the Internet. T or F False
84. Mainstream Muslims following the caliph were conventionally called Sunnis, while the followers of Ali became known as Shi’ites. T or F True
85. The major factor in deciding to employ suicide terrorists is the ____ of the group Religious beliefs
86. Many international terrorist groups move money through an ancient trading network called the hawala system. T or F True
87. Many scholars agree that the narcotics trade is a primary source of money for terrorist organizations. T or F True
88. The Mau Mau movement is based in which of the following countries? Kenya
89. The Mau Mau movement originated in: Kenya
90. The Mau Mau uprising was a(n) _____ resistance movement by a tribe displaced by colonial agricultural policies. urban
91. The meaning of terrorism has changed with political tides in Western history. T or F True
92. Modern Spain emerged from the unification of several Hispanic kingdoms in the late 1700s. T or F ?
93. Modern terrorism, as defined in the text, surfaced with violent anarchists in the late ____. 1800s
94. Modern terrorism developed out of the _____. French Revolution
95. Mohammed was born in Mecca T or F True
96. Most Basques were interested in cultural identity, not class revolution. T or F true
97. The most damaging Sikh attack was on an Indian _____. temple
98. Most dirty-bomb scenarios are based on the premise that a agent will be used with a conventional explosive. ?
99. Most Muslims in Nigeria were originally _____ and remain so today. Sufis
100. The motivations of criminals and terrorists are the same. T or F False
101. Muslims believe Mohammed created the perfect Islamic community at _____. Medina
102. Muslims believe that Jews, Christians, and Zoroastrians worship the same deity. T or F True
103. Nationalistic terrorists adopted the tactics, but not the ideology of: anarchist
104. Nerve agents, blood agents, choking agents, and blistering agents are all examples of ____ agents. Chemical
105. New media is any virtual network that allows communication, including blogs, internet postings, and social networks. T or F True
106. New Networks have challenged the West’s hold on international news. T or F True
107. Nidal Malik Hasan is considered a lone wolf. T or F True
108. On August 15, 1969, fighting in Ireland was focused in which two cities? Belfast and Londonderry
109. One fact that influenced the adoption of violent action by anarchists was the invention of dynamite. T or F True
110. The only persons to practice terrorism in the name of their religion are Muslim fanatics. T or F ?
111. On November 5, 2009, U.S. Army Major Nidal Malik Hasan went on a shooting spree in ______, killing 13 people. Fort Hood, TX
112. Organized crime and terrorism are identical. T or F False
113. PKK terrorists combined nationalism with ____. ideology
114. The PKK was founded in 1974 to fight for an independent ____. Kurdistan
115. The political party of the IRA is known as The Provisionals
116. Presenting illegally gained money in the formal economic system as if it were the result of a legal activity is known as: integration
117. Putting criminal proceeds in the legitimate financial system is known as: placement
118. The Quran is a codified version of the communication Mohammed received from the angel _____. Gabriel
119. Radicalization is a process that is not specifically applicable to any national, political, religious, or ideological group. T or F True
120. Radicalization is the process that changes a person’s socially acceptable behavior into terrorism. T or F True
121. Radicalization is the result of persecution, precedent, poverty, and perseverance. T or F True
122. ________ refers to the psychological process of adopting extremist positions. Radicalization
123. Reporting frames form the basis for communicating symbols. T or F False
124. Research has shown that the media has virtually ignored domestic security issues. T or F True
125. The reserve force of the Royal Ulster Constabulary (RUC) was known as______. The Provisionals
126. Rohan Gunaratana sees that suicide bombings have which three things in common? Secrecy, reconnaissance, and rehearsal
127. The Salafi movement refers to those people who impose Islam with force and violence. T or F True
128. “Selective terrorism” as s strategy was developed by ________. Michael Collins
129. Sending unsecure e-mail is the most common usage of the Internet by terrorists. T or F True
130. Sikhism embodies elements of ____ and Hinduism. Islam
131. Small terrorist groups tend to be weak, while larger groups have more staying power. T or F True
132. The social context surrounding the term terrorism influences how it is defined. T or F True
133. Some Islamic countries refer to their legislative body as a majlis. t or F ?
134. “Stay tuned” is an example of a televisions network’s drama pattern. T or F ?
135. Steganography is frequently said to be one of the Internet’s greatest vulnerabilities in light of criminal and terrorists communication. T or F True
136. The struggles of separatist movements have shaped modern terrorism. T or F True
137. Studies have shown American news media to have strong conservative bias. T or F True
138. Sunnis comprise an estimated ____ percent of all Muslims today. 85-90
139. Sunnis compromise an estimated 85-90 percent of all Muslims today. T or F True
140. ______’s work On Crimes and Punishment is the classic Enlightenment study of criminology. Cesare
141. Television and the internet give terrorists an immediate international audience. T or F True
142. Television generates the same stereotypes for female terrorists and politicians. T or F True
143. Television impacts the way women are viewed in terrorist organizations. T or F True
144. The term terrorism is not loaded with politically explosive meanings. T or F False
145. Terrorism began as government repression in which country? France
146. Terrorism came into existence during the American Revolution. T or F False
147. Terrorism is an organizational process. T or F True
148. Terrorism is difficult to define because it is not a physical entity that has dimensions to be measured, weighed, and analyzed. T or F True
149. ____ terrorism refers to the artificial mixing of rival ethnic groups, tribes, nationalities, or cultures in a nation- state. Endemic terrorism
150. Terrorist operations are extremely costly. T or F True
151. Terrorists are treated differently from criminals and other enemies of the state. T or F True
152. Terrorists financing refers to the methods terrorist groups use to raise the material needed to support operations and organizations. T or F True
153. Terrorists groups have a special relationship with the news media. T or F True
154. Terrorists may select targets of opportunity, but the target has a primarily ______ value. Symbolic
155. Terrorists often move in the same circles as organized criminals, smugglers, and drug dealers. T or F False`
156. Terrorists rarely use the Internet for propaganda. T or F False
157. Terrorists use the Internet for target selections. T or F True
158. There are four types of biological agents: (1) natural poisons, or toxins that occur without human modification? (2) viruses? (3) bacteria? and (4)_____. Plagues
159. There is no consensus about the definition of radicalization. T or F False
160. There is no difference between separatist violence, ideological terrorism, and religious terrorism. T or F true
161. To finance its operations, the IRA developed an organized crime network known as a : Capone discovery
162. Turkey has lost 40,000 people to ____ since 1980. terrorism
163. The type of nuclear bomb used at Hiroshima employed highly enriched uranium
164. The United States has experienced ____ notable biological attacks since 1980. two
165. The violence of the French Revolutionary period is colloquially known as _____. The Reign of Terror
166. The way that people view reality is known as a(n): Social construct
167. The Weather Underground was a left-wing domestic terrorist group. T or F True
168. What biological agent infected citizens through the mail in the wake of the attacks on September 11, 2001? Anthrax
169. When terrorists move goods, people, weapons, money, or contraband they must do so in underground networks. T or F True
170. When terrorists raise money, they usually commit the crime after they get the funds. T or F True
171. Which of the following is not an example of layering money? putting the money in a checking account
172. Which of the following is NOT a target for cyberterrorism? Freeways
173. Which of the following is NOT a target of transnational attack? Consumerism
174. Which of the following is not a way that money is laundered? exchange
175. Which of the following is not true of criminals? They plan their schemes extensively.
176. Which of the following is not true of terrorists? They run when confronted with force.
177. Which of the following is the process of converting the proceeds of crime into assets that can be used in the formal economy? Integration
178. Which of the following refers to the methods used to find terrorist groups or operations? Terrorist financing
179. Which of the following religions were not founded in th Middle East? Hinduism
180. Which of the following terrorist organizations is most likely to use the black market peso exchange? FARC
181. Which organization is viewed as having set the stage for modern separatist terrorism? IRA
182. While the media enhances the power of terrorism, it does not cause it. T or F True
183. Who are the four major prophets of Islam? Abraham, Moses, Jesus, and Mohammed
184. Who is considered thee father of communism? Karl Marx
185. Who of the following authored The Communist Manifesto? Marx and Engles
186. Zaidi Shi’ites compose the majority of Shi’ite Muslims. T or F ?
187. The Zionist movement took place at the same time the Ottoman Empire was forming. T or F True
 
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