During 2017,MVC Operated as a C Corporation

question 93

Essay

During 2017,MVC operated as a C corporation.However,it made an election to be taxed as an S corporation effective January 1,2018.MVC uses the accrual method of accounting and uses the LIFO method of accounting for its inventory.At the end of 2017 its inventory basis under the LIFO method was $63,000.If MVC had used the FIFO method of accounting for its inventory,it would have had a $70,000 basis in its inventory.Finally,MVC's regular taxable income in 2017 was $80,000.What amount of LIFO recapture tax must MVC pay? When must it pay the tax?

Explain the difference between methodological and radical behaviorism.

Examine the impact of conditioning on human behavior and societal issues, such as criminal behavior and child rearing.

Identify the influences of genetics versus environment on behavior according to contemporary behaviorist views.

Illustrate key experiments in behaviorism, such as those conducted by Pavlov, Thorndike, and others.

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Definitions:

Plantation Labor

Work or toil, often forced, that takes place on large agricultural estates, historically associated with the cultivation of crops like cotton, sugar, and tobacco.

Blue Collar

A term used to describe workers in manual labor industries or occupations, often involving physical work and typically requiring protective clothing.

Manual Wage Workers

Refers to laborers who perform physical tasks and are compensated based on hourly rates or fixed salaries, often in sectors like manufacturing, construction, and maintenance.

Shop-Floor

The area in a manufacturing facility where goods are produced or assembled.