Which of the following statements is correct with respect to a partial liquidation? a. the genuine contraction of a corporate business requirement is an objective test that taxpayers can rely upon with certainty. b. the distribution of proceeds from the sale of excess inventory to shareholders in exchange for part of their stock will not satisfy the not essentially equivalent to a dividend test. c. a stock redemption pursuant to a partial liquidation cannot be pro rata with respect to the shareholders. d. the termination of a business test requires that the distributing corporation actively conducted at least three trades or businesses for at least five years. e. none of the above.

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?

Atariff on avocadoes the price of avocadoes, consumers' surplus for avocado buyers, producers' surplus of avocado growers and tariff revenue. because the loss to is more than the gain to there is a net loss to society.raises; decreases; increases; generates; consumers; producers and government raises; increases; decreases; does not generate; producers and government; consumers lowers; increases; decreases; does not generate; producers and government; consumers raises; increases; decreases; generates; producers; consumers and government