Question & Answer

Copolymers can possess four different arrangements of their constituent mers. Name and briefly describe the four arrangements.

Bob Ryan filed his tax return and claimed a dependency exemption for his 16-year-old son Dylan.Both Bob and Dylan are citizens and residents of the United States.Dylan meets all the necessary requirements to be considered a qualifying child; however, when Bob filed the tax return he didn’t know Dylan’s Social Security number and, therefore, didn’t include an identifying number for his son on the tax return.Instead, Bob submitted an affidavit with his tax return stating he had requested Dylan’s Social Security number from Dylan’s birth state.Is Bob allowed to claim a dependency exemption for Dylan without including Dylan’s identifying number on the return?

Outline the accounting procedures involved in applying the direct-financing method.

In general terms, what are the differences in the rules for determining who is a qualifying child and who qualifies as a dependent as a qualifying relative? Is it possible for someone to be a qualifying child and a qualifying relative of the same taxpayer? Why or why not?

How would it be possible to show three different lines on the same diagram?

What is physical vapor deposition?

Describe the computation of the limit placed on the business interest deduction. Is the disallowed business interest ever deductible?

George bought the following amounts of Stock A over the years:

Describe the three parties engaged in every business transaction and how understanding taxes may aid in structuring transactions.

Using the facts from the previous problem, how would your answer change if Latoya understated her income by 40 percent? How would your answer change if Latoya intentionally failed to report as taxable income any cash payments she received from her clients?

In which of the following industries is collusion likely to occur: bricks, beer, margarine, cement, crisps, washing powder, blank DVDs, carpets?

Describe the dividend discount valuation model. What are some limitations when using this model? (LO1)

Assume the same facts as in the previous problem but that Betty and Barney are not getting along and have separated due to marital discord (although they are not legally separated). In fact, they cannot even stand to talk to each other anymore and communicate only through their accountant. Betty wants to argue that she should not be treated as owning any of Barney’s stock in Bedrock because of their hostility towards each other. Can family hostility be used as an argument to void the family attribution rules?  Consult Rev. Rul. 80-26; Robin Haft Trust v. Comm’r, 510 F.2d 43 (1st Cir. 1975);

Explain how the probability distribution of a financial institution’s returns is affected when it uses interest rate futures to hedge. What does this imply about its risk? (LO2)

What are some of the ingredients usually added to the metallic powders during blending and/or mixing?

The Bank of Japan desires to decrease the value of the Japanese yen against the U.S. dollar. How could it use direct intervention to achieve this goal? (LO2)

What is a photoresist?

1.       : Why is self-awareness important for being a good manager? Can you think of some specific negative consequences that might result from a manager with low self-awareness?

} Dennis is currently considering investing in municipal bonds that earn 6 percent interest, or in taxable bonds issued by the Coca-Cola Company that pay 8 percent.  If Dennis’ tax rate is 20 percent, which bond should he choose?  Which bond should he choose if his tax rate is 30 percent?  At what tax rate would he be indifferent between the bonds?  What strategy is this decision based upon?

A horizontal true centrifugal casting process is used to make lead pipe for chemical plants. The pipe has length = 0.5 m, outside diameter = 70 mm, and wall thickness = 6.0 mm. Determine the rotational speed that will provide a G-factor = 60.

Compute SWK Inc.’s tax liability for each of the following scenarios:

Name some manufacturing processes that produce very good or excellent surface finishes

Pam has a $27,000 basis (including her share of debt) in her 50 percent partnership interest in the Meddoc Partnership before receiving any distributions. This year Meddoc makes a current distribution to Pam of a parcel of land with a $40,000 fair market value and a $32,000 basis to the partnership. The land is encumbered with a $15,000 mortgage (the partnership’s only liability). a. What are the amount and character of Pam’s recognized gain or loss? b. What is Pam’s basis in the land? c. What is Pam’s remaining basis in her partnership interest?

Rolando purchases a golf cart from his employer, E-Z-Go Golf Carts, for a sizable discount. Explain the rules for determining if Rolando’s purchase results in taxable income for him.

What is the predominant chemical compound in almost all glass products?