Tiger corporation reported taxable income of $500,000 from operations this year. during the year, the company made a distribution of land to its sole shareholder, mike fairway. the land’s fair market value was $75,000 and its tax and e& p basis to tiger was $125,000. mike assumed a mortgage attached to the land of $15,000. any gain from the distribution will be taxed at 21 percent. the company had accumulated e& p of $750,000 at the beginning of the year.

Aprice control is: question 1 options: a)a tax on the sale of a good that controls the market price. b)an upper limit on the quantity of some good that can be bought or sold. c)a legal restriction on how high or low a price in a market may go. d)control of the price of a good by the firm that produces it.

Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?

Because the demand for wheat tends to be inelastic. true or false