Bank Corp., a calendar-year corporation, reimburses employees for properly substantiated qualifying business meal expenses. The employees are present at the meals, which are neither lavish nor extravagant, and the reimbursement is not treated as wages subject to withholdings. For 2016, what percentage of the meal expense may Bank deduct?

Billy Company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.

A) $139,000. B) $155,000. C) $145,800. D) $141,000. E) $167,000.

The following statements regarding tall structures in an organization are true EXCEPT:

A. In tall structures, there is a greater level of freedom of action for each employee B. Tall structures are better at satisfying security needs of employees than flat structures C. Number of employees reporting to each manager tends to be smaller in tall structures D. Employees feel a greater sense of job security in tall structures