At the time of his death, Fred held some notes receivable for loans he made to his two daughters and the payment of which he forgives in his will. The amount to be included in Fred's gross estate as to these notes is not affected by his forgiveness
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: Whether a note receivable is forgiven by the holder makes no difference in valuing the note.
Business
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Companies have the option of disclosing information about the nature of their operations and the use of estimates in preparing financial statements.
a. true b. false
Business
When McDonald's failed to realize that Applebee's and Chili's were providing products that met consumers' needs for a quick, tasty, and convenient meal, McDonald's failed to consider its ________
A) marketing mix B) mass customization C) direct competition D) indirect competition E) competitive advantage
Business