Juanita owns 60% of the stock in a c corporation that had a profit of $200,000 in the current year. carlos owns a 60% interest in a partnership that had a profit of $200,000 during the year. the corporation distributed $45,000 to juanita, and the partnership distributed $45,000 to carlos. with respect to this information, which of the following statements is incorrect?
(a) juanita must report $120,000 of income from the corporation.
(b) the corporation must pay corporate tax on $200,000 of income.
(c) carlos must report $120,000 of income from the partnership.
(d)the partnership is not subject to a federal entity-level income tax.
(e)none of the above.

Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment. b. use cash to repurchase some of the company's own stock. c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year. d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash. e. use cash to increase inventory holdings.

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?