Bob owns a warehouse that is used in business while rebecca owns land. bob exchanges the warehouse for the land, which will be held for investment. the fmv of the warehouse is $440,000 (basis $240,000), but the warehouse is subject to a mortgage of $80,000, which is assumed by rebecca. bob receives $40,000 cash and the land, which has a fmv of $320,000. bob realizes a gain (loss) on the exchange of

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Which of the following best describes why you need to establish goals for your program?