Corporation "Y" report net sales of $300,000, $330,000, and $360,000 respectively for the years 2010, 2011, 2012. If 2010 is the base year, what percentage do 2012 sales represent of the base?

(a) 77%
(b) 108%
(c) 120%
(d) 13%

Ans: (c) 120%

Business

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Based on what you saw in this video, which type of consumer does BoltBus target?

a. Loyal customers b. Price buyers c. Brand switchers d. Competitor's customers

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Charles, age 65, owns a paid-up $250,000 whole life policy on his own life. Charles is doing some estate planning and would not like this policy to be included in his gross estate for federal estate tax purposes

Which of the following statements is (are) true regarding the tax treatment of this policy? I. Charles can avoid having the policy proceeds included in his gross estate by naming his estate the beneficiary. II. If Charles makes an absolute assignment of the policy and dies more than three years later, the policy is not counted as part of his gross estate. A) I only B) II only C) both I and II D) neither I nor II

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