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Author Archives: Anonymous

What is bioturbidation?

What is bioturbidation?

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Merck Corporation, a different pharmaceutical company, claim…

Merck Corporation, a different pharmaceutical company, claimed a $3,200,000 research tax credit on its current year tax return. It also determined that it was more likely than not that the position would be sustained under audit. If it determines that $2,200,000 merits recognition as a tax benefit under FIN No. 48 rules, how much should become unrecognized? Use a positive value rounded to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

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A new beach resort called “Isle Be Waiting” was organized as…

A new beach resort called “Isle Be Waiting” was organized as a corporation. In Year T, it had a net capital loss of $1,500,000. It was able to carry back $700,000 of the net capital loss to prior years to receive an immediate refund of capital gains taxes paid in prior years. However, the remaining net capital loss would have to be carried forward to Year T+1.What is the dollar amount of Isle Be Waiting’s book-tax difference in the Year T? Enter as a positive value rounded to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

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Steve and Alex decide to form a partnership called Minecraft…

Steve and Alex decide to form a partnership called Minecraft Ltd. Both partners receive a 50% profits interest in the partnership. Ignoring answers and information in prior problems, assume that Steve and Alex have beginning outside basis in the partnership of $1,000,000 each before either considering doing any service for the partnership.If Steve decides to perform service for the partnership and asks for Alex to give him $200,000 of his capital interest as compensation for this service, how much of the $200,000 increase in capital interest is considered taxable income to Steve? Use a positive dollar value and round to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

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Steve and Alex decide to form a partnership called Minecraft…

Steve and Alex decide to form a partnership called Minecraft Ltd. Steve contributes a large building he had purchased 10 years before to the partnership for his partnership interest. The building has an adjusted basis of $1,220,000 and fair market value of $1,520,000. Alex contributes $1,400,000 in cash for his partnership interest. Both partners receive a 50% profits interest in the partnership.What is Steve’s basis in his partnership interest at formation? Use a positive value rounded to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

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Steve and Alex decide to form a partnership called Minecraft…

Steve and Alex decide to form a partnership called Minecraft Ltd. Both partners receive a 50% profits interest in the partnership. Ignoring answers and information in prior problems, assume that Steve and Alex have beginning outside basis in the partnership of $1,000,000 each before either considering doing any service for the partnership.If Steve decides to perform service for the partnership but instead of asking Alex for any additional capital interest as compensation for his services, he asks for a larger share of the profits interest such that Steve would then have a 60% profits interest and Alex would have a 40% profits interest. How much taxable income would Steve have to recognize because of the initial agreement to adjust the profits interest allocation for his service? Use non-negative numbers and round to the nearest whole number. Use commas when relevant but no decimals or dollar signs.

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A child who weighs 20kg will be starting treatment for Laten…

A child who weighs 20kg will be starting treatment for Latent TB. Rifampin can be given 15mg/kg/day po daily. Which is an appropriate and safe dose?

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If someone has overdosed on heroin contaminated with xylazin…

If someone has overdosed on heroin contaminated with xylazine and fentanyl it is ok to use naloxone.

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In the chain of causation of TB which are possible portals o…

In the chain of causation of TB which are possible portals of exit? (select all that apply)

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Multi drug resistant TB occurs when TB medicines are used in…

Multi drug resistant TB occurs when TB medicines are used inappropriately, through incorrect prescription by health care providers, poor quality drugs, or patients stopping treatment prematurely.

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