On December 31, Planet Company acquired 80% of the voting common stock of Star Company by issuing 100,000 shares of its own common stock (fair value $8/share). In the acquisition, Planet paid legal fees in the amount of $15,000 and paid SEC registration fees of $10,000. The book value of Star on December 31 was $700,000. Star's only balance sheet item with a fair value different from book value was a building. The building had a book value of $100,000 and a fair value of:

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

In most states, a licensee must provide a(n) of any existing agency relationships to all parties