Section 1239 recharacterizes gain on the sale of depreciable property to related person as ordinary income.

a. True

b. False

Assume Fiona is willing to pay $8 for a pizza cutter. Tim also wants one, but is only willing to pay $6 for one. At a pizza baker's convention, Fiona buys the last pizza cutter at the market price just before Tim can buy it.

Liabilities can be best described as:A. The amount of expenses over the past year. B. The amount expected to be distributed to stockholders. C. The amount owed to creditors. D. The amount of services provided to customers during the year.

Normative Economics may be defined as: Making use of language that elicits an emotional response or infers a value judgement. Making arguments that make selective use of the facts, generally by presenting only one side of the story.

When a bond is sold at a discount, the maturity value is less than the present value of the principal and interest payments, based on the market rate of interest on the date of issue. True / False.

Letang Industrial Systems Company (LISC) is trying to decide between two different conveyor belt systems. System A costs $265,000, has a four-year life, and requires $73,000 in pretax annual operating costs.

Dave and betsy have run kozy korner for many years, and from that experience they feel knowledgeable about the most likely threats to the business. however, experience has also taught them that completely unexpected events can happen.

Firm A and Firm B have the same total assets, ROA and profit margin. However, Frim B has a higher debt ratio and interest expense then Firm A. Which of the following statements is correct? A.) Firm B must have a higher ROE than first A. B.

You own a portfolio that is 32 percent invested in Stock X, 20 percent invested in Stock Y, and 48 percent invested in Stock Z. The expected returns on these three stocks are 6 percent, 19 percent, and 15 percent, respectively.

Which of the following statements about knowledge is true? Data and information are the same as knowledge. Knowledge resides in information. Knowledge is the understanding that one gains from information.

A client with acquired immunodeficiency syndrome (AIDS) develops Pneumocystis carinii pneumonia. Which nursing diagnosis has the highest priority? A. Impaired oral mucous membranes B. Activity intolerance C.