Alco, inc., a small manufacturing company, prepares its financial statements using its income tax basis of accounting. in december, 2012, it determined that an error had been made in the amount of rent expense reported in its 2011 tax return. how should alco account for the amount of the rental expense error in its 2012 financial statements?
a. as an adjustment to 2012 rental income. b. as an income tax expense in 2012.c. as a prior period adjustment. d. no reporting in 2012 required.

Awidower devised his fee simple interest in his residence as follows: “to my daughter for life, then to my oldest grandchild who survives her.” at the time of the widower’s death, he was survived by his only two children, a son and a daughter, and by one grandchild, his daughter’s son. a short time later, the daughter together with her son entered into a contract to sell the residence in fee simple to a buyer. the applicable jurisdiction continues to follow the common law rule against perpetuities, but has abrogated the rule in shelley’s case. at the closing, the buyer refused to purchase the residence. can the sellers compel the buyer to do so?

Which feature is a characteristic of a corporation?

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes