Media corp. is an accrual-basis, calendar-year c corporation. its reported book income included $6,000 in municipal bond interest income. its expenses included $1,500 of interest incurred on indebtedness used to carry municipal bonds and $8,000 in advertising expense. what is media's net m-1 adjustment on its form 1120, u. s. corporation income tax return, to reconcile to its taxable income?

(a) $1,500
(b) $3,500
(c) $9,500
(d) $(4,500)

Double corporation acquired all of the common stock of simple company for

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant.a. the division's basic earning power ratio is above the average of other firms in its industry.b. the division's total assets turnover ratio is below the average for other firms in its industry.c. the division's debt ratio is above the average for other firms in the industry.d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.