Carl transfers land to cardinal corporation for 90% of the stock in cardinal corporation worth $20,000 plus a note payable to carl in the amount of $40,000 and the assumption by cardinal corporation of a mortgage on the land in the amount of $100,000. the land, which has a basis to carl of $70,000, is worth $160,000.a. carl will have a recognized gain on the transfer of $90,000.b. carl will have a recognized gain on the transfer of $30,000.c. cardinal corporation will have a basis in the land transferred by carl of $70,000.d. cardinal corporation will have a basis in the land transferred by carl of $160,000.e. none of the above.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe

Question 1 2 points is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates