Television Station Channel 2 Receives $200,000 from Harry's Auto Parts

question 95

Multiple Choice

Television station Channel 2 receives $200,000 from Harry's Auto Parts, Inc., to air Harry's commercials during a local automotive repair talk show in December 2014. December's ratings drop sharply when the show's star quits to work as a mechanic with a NASCAR team. Shortly thereafter, Harry contacts Channel 2 indicating that he wants to discontinue his sponsorship and requests return of $125,000 of the payment. The station continues to air the commercials and keeps the $200,000. Harry initiates a legal suit to recover the $125,000. Which of the following dictate that the $200,000 be included in Channel 2's 2014 gross income? I. Capital Recovery Concept. II. Claim of Right Doctrine.

• A) Only statement I is correct.
• B) Only statement II is correct.
• C) Both statements are correct.
• D) Neither statement is correct.

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Definitions:

Exclusive Mode

A mode of operation in software applications that restricts access to the resource to only one user or process at a time.

Open Dialog Box

A common dialog box that enables users to select files or directories to be opened by a program.

Access Options

Various settings or methods available within a software or database system to customize or control accessibility.

LastName Field

A database field specifically designated for storing the last name of individuals, common in systems managing personal information.