On October 23,2017,McIntyre Sells 700 Shares of Stock at $26

question 46

Multiple Choice

On October 23,2017,McIntyre sells 700 shares of stock at $26 per share.McIntyre acquired the stock on June 1,2016,when he exercised his option to purchase the shares through his company's incentive stock option plan.The exercise price was $12 per share and the fair market value of the stock at the date of exercise was $16 per share.For 2017,McIntyre must report
​
Ordinary Capital
Income Gain

• A)$-0- $7,000
• B)$-0- $9,800
• C)$9,800 $-0-
• D)$2,800 $7,000

Recognize the limitations and applications of the FTC's Telemarketing Sales Rule and its impact on telemarketers and sellers.

Grasp the protections offered by the Fair Debt Collection Practices Act (FDCPA) regarding third-party contacts.

Comprehend the definition of a consumer under the Magnuson-Moss Warranty Act and the act's applicability to consumer transactions.

Understand the components of a comprehensive consumer credit report and the regulations governing credit reporting.

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Definitions:

Sundry Liabilities

Generally refers to a category of various minor or infrequent liabilities that a company might incur, which are too small or irregular to warrant individual classification.

One-Line Method

An accounting method used in consolidated financial statements where the investment in a subsidiary is presented as a single line item, reflecting the net assets of the subsidiary.

AASB 11

is an accounting standard that deals with the financial reporting of interests in joint arrangements.

Joint Operations

A business activity in which two or more parties share control and are jointly responsible for management, assets, and liabilities associated with the activity.