The Sandy Beach Inn is located on the Oregon coast and caters to an upscale clientele, offering such services as in-room massage, wedding packages, and catered beach picnics. Each time the Sandy Beach Inn rolls out a new service, the company prepares a press release, which is carried in local papers and posted on the Inn’s website. The cost of preparing the press release is a(n) ________ activity.

Alpha Partnership is on a fiscal year ending March 31. Partner Alf reports income on the fiscal year ending March 31, and Partner Omega reports income on the fiscal year ending September 30. Both partners have a 50% interest in partnership profits. Assuming the partnership does not make a Sec. 444 election and does not establish a business purpose for a different period, what tax year must the partnership use to file its tax return?

A. March 31. B. Any month end. C. December 31. D. September 30.

ABC stock expects to earn $3.00 a share next year and pay a cash dividend of $2.00 a share. If the stock is selling for $20.00 a share, its current return is

A) 15%. B) 10%. C) 25%. D) 5%.