During 2014 Carne Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2015. Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne. In 2015 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan.
On whose books should the cost of the inventory appear at the December 31, 2014balance sheet date?
a. Carne Corporation
b. Nolan Corporation
c. Norwalk Bank
d. Nolan Corporation, with Carne making appropriate note disclosure of the transaction

Answers

Answer 1

Answer:a. Carne Corporation rtdfrtfv xcvbn

Explanation:

Nolan then used the inventory as collateral to borrow from Norwalk Bank, remitting the proceeds to Carne.

Here, goods are temporarily transferred to Nolan corporation to handle financial requirements and agreed to repurchase the merchandise early in 2015, thus the cost inventory will be recorded by Carne corporation.

This is a kind of product financing arrangement.

Hence, the cost of the inventory will appear Carne Corporation at the December 31, 2014 balance sheet date.

Thus, the correct option is a. Carne Corporation.


Related Questions

You have just determined the actual number of workstations that will be used on an assembly line to be 8 using the assembly-line balancing procedure. The cycle time of the line is 600 seconds and the sum of all that tasks required on the line is 60 minutes. Which of the following is the correct value for the resulting line's efficiency?
a) 0.00125
b) 0.5
c) 0.650
d) 0.750
e) 0.835

Answers

Answer:

d) 0.750

Explanation:

The computation of the correct value for the resulting line's efficiency is shown below:

Efficiency = All task times sum ÷ (Actual number of workstations × cycle time)

where,

All task times sum is 60 minutes

The Actual number of workstations is 8

And, the cycle time is

Since 600 seconds = 10 minutes

And 1 minute = 60 seconds

So, the cycle time would be

= 600 ÷ 60

= 10 minutes

Now placing these values to the above formula

So, the resulting line's efficiency is

= 60 ÷ (8 × 10)

= 60 ÷ 80

= 0.750

A firm has a debt-to-equity ratio of 1.0. If it had no debt, its cost of equity would be 12 percent. Its cost of debt is 9 percent. What is its cost of equity if there are no taxes?

Answers

Answer:

15%

Explanation:

The computation of the cost of equity in case of no taxes is shown below:

Cost of equity without tax  = Cost of equity + (cost of equity - cost of debt) × debt equity ratio

where,

Cost of equity = 12%

Cost fo debt = 9%

And, the debt equity ratio = 1

Now placing these values to the above formula,

So, the cost of equity without considering the tax is

= 0.12 + (0.12 - 0.09) × 1

= 0.12 + 0.03 × 1

= 0.12 + 0.03

= 0.15

= 15%

What role do special government agencies play in protecting buyers? Check all that apply.

Answers

Answer:

Agencies create regulations to ensure safe products.

Agencies provide information about products and services.

Agencies collect buyers fraud complaints.

Special Government agencies make companies and businesses compete, by protecting the customers as well.

Explanation:

Answer:

A:  They create regulations to ensure safe products

E:  They provide information about products

F:  They collect customer fraud complaints

Explanation:

on edge Good Luck!!!

The purpose of the _____ stage of the new product development process of a company is to estimate costs and forecast sales for each idea to get a sense of the potential profit and of how the product might fit within the company's resources.

Answers

Answer:

reproducing cycle

Explanation:

i did it

When a business firm implements several programs to encourage prompt and courteous customer service, employee participation, and better coordination with suppliers, it is making an effort to use:__________.
A) quality concern focus.
B) total quality management.
C) quality improved planning.
D) quality development.
E) quality commitment.

Answers

Answer:

B) total quality management.

Explanation:

Total quality management is a method of management that focuses on every member of staff being committed to maintaining a high of work in every aspect of the business operations.

There is continuous improvement in the ability of the employees to provide quality service and performance.

In the given scenario - When a business firm implements several programs to encourage prompt and courteous customer service, employee participation, and better coordination with suppliers.

This is an effort to institute total quality management

EcoAthlete determines that the target market for its running shoes is people who are environmentally conscious. It uses only environmentally friendly materials in the production of its shoes, and packaging is made of exclusively recycled material. Which dimension of market segmentation does EcoAthlete use in determining this target market

Answers

Answer:

C) Lifestyle and Behavior

Explanation:

The reason is that Eco-Athlete is using its customer behavior and lifestyles to target a particular market segment which has common thinking and opinion about a particular item. In this case, Eco-Athlete is using Eco-friendly items because its customer are environmentally conscious which is their behavior that effects their lifestyle. So the company Eco-Athlete is basically using lifestyle and behavior dimension of market segmentation.

A tenant farmer built a chicken coop and a tool shed. These buildings belong to the a. tenant. b. owner of real estate. c. owner, but the owner must reimburse the tenant. d. tenant, but the tenant must pay additional rent for them.

Answers

Answer:

a. tenant.

Explanation:

Since in the question, it is mentioned that the tenant farmer is constructed a chicken coop and  a tool shed

As it is given in the question that the chicken coop and a tool shed is built or constructed by a tenant farmer so these buildings is belonged to tenant only

Hence, the correct option is a.

And the other options are wrong

King Construction Company receives weekly shipments of lumber, vinyl siding, and stone slabs from one of its materials suppliers. Since King Construction Company is a regular customer, the supplier has made an agreement to give the company discounts if it pays its bill early. This is an example of

Answers

Answer:

Trade credit

Explanation:

The trade-credit refers to the increase in credit by the suppliers. There is an option to purchase now and pay later. The company could take order with respect to material delivery, equipment on credit instead of paying in cash on an immediate basis. This can be done by using the trade credit

Therefore according to the question, since it is mentioned that there is an agreement that if pay the bill on early so the company provides the discount

So, this is an example of Trade credit

This is a Trade Credit illustration.

A trade credit agreement is a contract that allows you to buy products and services without having to pay for them right away. The buyer and the vendor come to an agreement, and the seller delivers the goods and services purchased. It is more beneficial to the expansion of a firm.

According to this knowledge, King Construction Firm is a regular customer, and there is an understanding that if the bill is paid early, the company will give a discount.

Learn more:

https://brainly.com/question/2911975?referrer=searchResults

Samira works for a company with a strict top-down structure. Her daily tasks must conform carefully to written guidelines and rules, and she has very specific job responsibilities. Samira works for a(n) ______.

Answers

Answer:

Samira works for a mechanistic organization.

Explanation:

A mechanistic organization is one in which decision making is very centralized and hierarchical. The name of mechanistic organization comes from an analogy with a "machine", machines are run based on predetermined algorithms, and mechanistic organizations can be so rigid as to seem like they run almost like perfect machines.

what are the importance of a scale ?​

Answers

Answer:

The importance of scale is given below.

Explanation:

Scale becomes making it more effective also because of the severity of the challenges faced throughout environments including certain reducing inequality, the community, gender inequality as well as infrastructure need on-scale approaches. They are therefore merge-border in natural surroundings and therefore not based exclusively towards one venue.

Gill’s Bakery has been buying flour from the same supplier for years. But due to recent price hikes, Gill’s decides to switch to another supplier that is offering the same quantity and quality of flour at a reduced price. Which of the following best describes the buying situation that has occurred?
Select one:
a. New buy
b. Reverse auction
c. Modified rebuy
d. Straight rebuy

Answers

Answer:

C

Explanation:

A Modified Rebuy is when a person who usually buys a product from a particular supplier changes his supplier or other elements of his purchase when reordering.

Whereas ______________ are often associated with a low-cost leader strategy, ______________ are frequently an important aspect of a differentiation strategy. Multiple Choice process innovations; product innovations product innovations; service innovations radical innovations; instrumental innovations marketing innovations; management innovations

Answers

Answer:

banks

Explanation:

banks is it

Laura Pine worked as a welder for BCD Company for ten years before it changed its rigid tuition reimbursement policy. This year, the new education support policy will allow her to take any course that interests her, not just a course in her field of employment. She is very excited about this and has enrolled in two management courses. She has always thought she had the ability to become a good manager. Laura is attempting to satisfy her ____ needs.

Answers

Answer: self-actualization

Explanation:

From the question, we are informed that Laura Pine worked as a welder for BCD Company for ten years before it changed its rigid tuition reimbursement policy.

We are further informed that this year, the new education support policy will allow her to take any course that interests her, not just a course in her field of employment and that she is very excited about this and has enrolled in two management courses.

She has always thought she had the ability to become a good manager. This shows that Laura is attempting to satisfy her self actualization needs.

Items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30,2016

Answers

Answer:

Financial Statements are the reports of a company which provide detailed information about company financial position. The Income statement reports the company revenues and expense for the period whereas Balance sheet reports the company assets and liabilities position.

Explanation:

The Maple Park Theaters Corp. has reported the net of $133,562 in its income statement. The company has planned for reinvesting the 80% of net income into the extension of park. The reinvestment decision is taken by the company management for the purpose of increase revenue. The decision seems to be correct as extension of park and its services will attract more people to the park and ultimately revenue will increase and so profit too.

Unlike venture capital firms and most other institutional investors, angels typically invest in businesses in their earliest phases, providing the seed capital needed to get the business going.
a) true
b) false

Answers

Answer:

true

Explanation:

Angel investors are investors that provide one time funding to startups usually at the inception of the startup. the angel investor usually receives ownership stakes in exchange for their capital

A country has been in existence for only two years. In the first​ year, receipts were​ $1.0 million and outlays were​ $1.5 million. In the second​ year, receipts were​ $1.5 million and outlays were​ $2.0 million. At the end of the second​ year, the government had issued debt worth​ ______.

Answers

Answer: $1 million

Explanation:

From the question, we are informed that a country has been in existence for only two years and that in the first​ year, receipts were​ $1.0 million and outlays were​ $1.5 million. Since outlays us more than revenue, it shows that there's a debt of ($1.5m - $1.0m) = $0.5 million.

In the second​ year, receipts were​ $1.5 million and outlays were​ $2.0 million. This also shows that there is a debt of $0.5 million.

At the end of the second​ year, the government had issued debt worth:

= $0.5 million + $0.5 million

= $1 million

________, which indicates free enterprise in the hands of the self-employed, was a contributory factor to the economic growth of newly industrialized countries (NICs). Multiple Choice Entrepreneurship Expropriation Privatization Socialization Nationalization

Answers

Answer: entrepreneurship

Explanation:

Entrepreneurship is the act of running a business despite the risk involved with the aim of making profit. The role of entrepreneurship in every economy cannot be understated.

It is a contributory factor to the economic growth of newly industrialized countries as it provides job opportunities, brings about economic growth and increase in welfare to the people.

Explain the types of accounts ​

Answers

Answer:

Hi there!

For accounting treatment , accounts are broadly classified into three types as personal account , real account and nominal account or fictitious account. They are as follows:

Personal account

The account which is related with a person or organization ( entity ), is termed as personal account. Here person means natural persons like Anna , Olivia , James etc and organization represents the artificial persons created by law. The rule for debit and credit for personal accounts is ;

Debit : The receiver

Credit : The giver

Real account

The account which is related with assets or property is known as real account. Land and building , plant and machinery, and furniture and fixtures are the examples of the real account. Properties or assets are either incoming or outgoing from the organization. The rule for real account is ;

Debit : What comes in

Credit : What goes out

Nominal account

The account which is related to expenses or loss and income or gain is known as nominal account. Rent , wages , salary , discount , interest and commission are the examples of nominal account. The rule of nominal account is;

Debit : the expenses or losses

Credit : the income or gains

Hope this helps..

Best regards!!

Explanation:

3 Different types of accounts in accounting are Real, Personal, and Nominal Account. Real account is then classified into two subcategories – Intangible real account, Tangible real account. Also, three different sub-types of Personal account are Natural, Representative, and Artificial.

PERSONAL ACCOUNT:

These accounts types are related to persons. These persons may be natural persons like Tom’s account, Sam’s account, etc.

These persons can also be artificial persons like partnership firms, companies, bodies corporate, an association of persons, etc.

There can be personal representative accounts as well.

Rule for this Account

Debit the receiver.  Credit the Giver.

REAL ACCOUNT:

These account types are related to assets or properties. They are further classified as Tangible real account and Intangible real accounts.

1.Tangible Real Accounts

These include assets that have a physical existence and can be touched. For example – Building A/c, cash A/c, stationery A/c, inventory A/c, etc.

2.Intangible Real Accounts

These assets do not have any physical existence and cannot be touched. However, these can be measured in terms of money and have value. For Example  – Goodwill, Patent, Copyright, Trademark, etc.

Real Account Rules

Debit what comes into the business. Credit what goes out of business.

NOMINAL ACCOUNT:

These accounts types are related to income or gains and expenses or losses. For example: – Rent A/c, commission received A/c, salary A/c, wages A/c, conveyance A/c, etc.

Rules

Debit all the expenses and losses of the business. Credit the incomes and gains of business.

There are some other accounts in accounting as well:

Cash Account – This account is used for keeping the records of payments done by cash, withdrawals, and deposits.

Income Account – The Purpose of this account is to keep the record of the income sources of business.

Expense Account – This account tracks the expenditure of the business.

Liabilities – If there is any debt or loan then that amount comes under liabilities.

Equities –  If there is an investment of the account owner or common stocks, retained earnings then these will fall under equities.

The owner of Mercury Appraisal Company held a ribbon-cutting event when he opened his new business. He invited city dignitaries, representatives from all the news media, and anyone who might have need of his services to the event. The goal of his promotion was most likely to:

Answers

Answer:

create awareness

Explanation:

Based on this scenario it can be said that the main goal of this promotion was to create awareness. This means grabbing the attention of as many individuals as possible in order to spread the company's reach. Doing so allows a wider population to get to know the company which in term leads to more clients doing business with Mercury Appraisal Company, and more business means more profits.

Consider two perfectly negatively correlated risky securities A and B. A has an expected rate of return of 10% and a standard deviation of 16%. B has an expected rate of return of 8% and a standard deviation of 12%. What is the weight of Security A in the global minimum variance portfolio? Format your answer as a percent to 2 decimal places. (e.g. XX.XX% do not show % sign)

Answers

Answer:

0.43

Explanation:

The computation of the weight of Security A for the minimum variance portfolio is shown below:

Weight of security A is

= (Standard deviation of Security B) ÷ (Sum of the standard deviation of securities)

= (12%) ÷ (16% + 12%)

= (12%) ÷ (28%)

= 0.43

We simply applied the above formula so that the weight of Security A

Suppose the governments of two different economies, economy A and economy B, implement a permanent tax cut of the same size. Investment spending in economy A is more sensitive to changes in the interest rate than investment spending in economy B. The economies are identical in all other respects. The tax cut will have a smaller impact on aggregate demand in the economy with the

Answers

Available Options Are:

a) higher sensitivity to changes in the interest rate, or

b) lower sensitivity to changes in the interest rate

Answer:

Option A. Higher sensitivity to changes in the interest rate

Explanation:

The reason is that the tax cut will encourage foreign investment and this increase in Foreign Investment will increase the GDP but by small amount. However, the higher interest rate in an economy always raises additional money in an economy which companies invest to purchase the new GDP. Thus the GDP growth is highly sensitive to changes in interest rate.

TimeEnough Inc. entered the low-priced digital watch market several years ago. This firm's earnings have been unsteady, but might be growing. According to the BCG growth matrix, TimeEnough is a

Answers

Answer:

Time Enough is a question mark.

Explanation:

In the BCG growth matrix, question marks are those firms that have a low market share, but that are growing, however, it is still uncertain where said firms will stand in the future.

Time Enough is a question mark because while the firm's earnings have been usteady, there is still evidence that the firm is growing, so the firm could become a star or a cash cow in the future.

How does a price war affect customers?

Answers

Answer:

no body will buy it

Explanation:

u increase and decrease the price so much that no body will know the price

For consumers, lower prices mean better deals. Also, consumers can benefit from additional products and services offered during a price war. For example, if car companies are engaged in a price war, consumers might be able to score a bargain price for a high-end model car that otherwise would have been too expensive

When a security is being registered under coordination, all of the following are required EXCEPT A) filing with the Administrator of a statement of the maximum and minimum proposed offering price and maximum underwriting discounts or commissions concurrently with the filing of the registration statement with the SEC B) payment of the appropriate fee C) a description of the proposed use of the proceeds of the underwriting D) prompt filing with the Administrator of any amendments filed with the SEC

Answers

Answer:

C) a description of the proposed use of the proceeds of the underwriting

Explanation:

When registering security by coordination, it is required that the applicant pays the appropriate fees required by law before the process begins. He is also expected to make proper documentation and filing with the Administrator at the Securities Exchange Commission. Any amendments made in former agreements are to be filed. An undertaking is to be signed by the applicant to document any future amendments.

The applicant is also expected to provide a statement of the maximum and minimum price offering, underwriting discounts, or commissions. Price Amendments are to be filed with the Administrator too. He is not expected to provide a description of the proposed use of the proceeds of the underwriting.

arston acquired assets for $100,000. At the end of year 3, the assets had accumulated depreciation of $40,000. An impairment loss was indicated, and the fair value of the assets was $48,000. The journal entry to record the impairment loss will include

Answers

Answer:

Kindly see Explanation

Explanation:

JOURNAL ENTRY :

Asset worth = $100,000

Accumulated Depreciation = $40,000

Fair value of asset due to loss impairment = $48,000

Asset ($100,000 - $48,000) - - - $52,000 Cr.

Accumulated Depreciation - - - $40,000 Dr.

Impairment loss - - - - - - - - - - - - $12,000 Dr.

Impairment loss = (Asset value - Depreciation - fair value)

Impairment loss = ($100,000 - $40,000 - $48,000)

$60,000 - $48,000 = $12000

In one state, a lender holds a lien on real property offered as collateral for a loan. The borrower retains both legal and equitable title to real property. If the borrower defaults on the loan, the lender must go through formal foreclosure proceedings to recover the debt. This state can be BEST characterized as what kind of state?

Answers

Answer:

LIEN THEORY

Explanation:

Based on the scenario being described it can be said that this state is a lien theory state, in which the court is enlisted to order and oversee the foreclosure procedure. In such a state, the buyer/borrower holds the deed to the real estate property until the mortgage expires and promises to make the mortgage payments that were previously agreed upon in the financial agreement.

Arbot Co. manufactures appliances at three manufacturing facilities in the United States. Each location has a plant manager who oversees the manufacturing process for that location. Segmented income statements are prepared for each plant and for each product manufactured in the plant. The salary of each plant manager is a ______ for the individual product lines made in the plant.

Answers

The correct answer to this open question is the following.

Arbot Co. manufactures appliances at three manufacturing facilities in the United States. Each location has a plant manager who oversees the manufacturing process for that location. Segmented income statements are prepared for each plant and each product manufactured in the plant. The salary of each plant manager is a traceable fixed cost to the plant and a common fixed cost for the individual product lines made in the plant.

The traceable fixed cost for a corporation means that this cost has a relationship between cost and effect related to a particular area or region of the country, or related to a process just operated in a specific location. This traceable fixed cost is part of the equation because there is a peculiar business that includes it. Or there is a necessity to be covered.

A seller entered into a written contract to sell a tract of land to a buyer. The buyer was to pay $1,500 per month for five years, at which time the seller would deliver a warranty deed. The contract was silent as to the quality of title to be conveyed. After making 12 payments, the buyer discovered that a neighbor had an easement of way over the land, which was not discussed at the time the seller and buyer entered into the contract. The neighbor had not used the easement over the previous year because she had been out of the country. On the basis of the easement, the buyer wishes to cancel the contract. Which party is more likely to prevail?

Answers

Answer:

Option B

The party which is more likely to prevail is the seller, because the buyer has no basis on which to rescind the contract.

Explanation:

A contract is a lawful agreement in which there is two person which is enforceable by law. In this contract there is agreement, consent, lawful consideration, rules and regulations have existed

Now according to the real estate contract there is a contract of

a. Money from the client

b. Title for real estate

So as per the situation give, the option is correct as the buyer has no reason for cancel the contract

Frames, Inc. manufactures large wooden picture frames. Each frame requires $19 of direct materials and $40 of direct labor. Variable manufacturing overhead cost is $9 per frame produced, and variable selling and administrative expense is $13 per frame sold. The company produces 5,000 units each month and total fixed manufacturing overhead cost per month is $15,000. The unit product cost of each frame using variable costing is:_______.

Answers

Answer:

Unitary production cost= $68

Explanation:

Giving the following information:

Each frame requires $19 of direct materials and $40 of direct labor. Variable manufacturing overhead cost is $9 per frame produced.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

Unitary production cost= 19 + 40 + 9= $68

In the manufacture of 10,000 units of a product, direct materials cost incurred was $165,000, direct labor cost incurred was $105,000, and applied factory overhead was $53,000. The total conversion cost is

Answers

Answer:

$158,000

Explanation:

During the manufacture of 10,000 units of a products, the direct costs incurred was $165,000

The direct labour costs incurred was $105,000

The applied factory overhead was $53,000

Therefore, the total conversion cost can be calculated as follows

Total conversion costs= Direct labour+ Factory overhead

= $105,000+$53,000

= $158,000

Hence the total conversion cost is $158,000

Other Questions
A 5-ounce container of Greek yogurt contains 140 calories. Find the unit rate of calories per ounce Under the equity method of accounting for investments, an investor recognizes its share of the earnings in the period in which the:_________.a. investor sells the investmentb. investee declares a dividendc. investee pays a dividendd. earnings are reported by the investee in its financial statements Write a program that asks for the weight of a package and the distance it is to be shipped. This information should be passed to a calculateCharge function that computes and returns the shipping charge to be displayed . The main function should loop to handle multiple packages until a weight of 0 is entered. Alexander is in the grocery store with his mom and he sees the candy-like cereal he saw advertised on television. He asks his mom to purchase it and she says no. He continues to beg, bargain, and pout until she concedes. Alexander demonstrated _____ power. What is produced when cells differentiate?proteinshormonesuniform cellsspecialized cells linear equations: w-3=15 Use a graphing calculator to sketch the graph of the quadratic equation and then give the coordinates for the x-intercepts (if they exist) y=x2+7x+10 A (-2,0),(5,0) B (2,0);(-5,0) C (2,0);(5,0) D (-2,0);(-5,0) Can anyone help me to fill this blank with French words?Bonjour! Je(0) mappelle Maria et j(1) _________ 24 ans. Je(2) ________ russe et je(3) ________ tudiante. Je(4) _____ russe, anglais et franais. J(5) _______ un chien et il(6) ________ Titu. Il(7)__________ 3 ans. J(8) ________ aussi 2 amis. Ils(9) _________ Dimitri et Natasha. Dimitri(10) __________ aussi 24 ans mais Natasha(11) ________ 22 ans. Dimitri(12)_________ ingnieur et il (13)___________ russe et anglais. Natasha(14) _________ tudiante du mdecin et elle(15)____________ un cheval.(1) Two soccer teams play 8 games in their season. The number of goals each team scored per game is listed below: Team X: 11, 3, 0, 0, 2, 0, 6, 4 Team Y: 4, 2, 0, 3, 2, 1, 6, 4 Which of the following is true? A. Team Xs scores have a lower interquartile range. B. Team Xs scores have a higher median value. C. Team Ys scores have a lower mean value. D. Both teams have the same range of scores. Adolescents who use aggression deliberately, known as ________, are much more popular than adolescents who use aggression without planning to, known as __________. There is a zero coupon bond currently priced at $521.58. This bond has a par value of $1000 and matures in 9 years. What is the yield to maturity of this bond URGENT can yall answer my arabic hw ???? ill give brainliest for correct answer ... Lee watches tv 3hours per day. Lee tv consumes 200 watts when on. Electricity cost 12 cents 1 kilowatt-hour how much does Lee's tv cost to operate for 30 days The degree to which firms should segment their markets depends on the balance the firm wants to achieve between the added perceived customer value that segmentation can offer and its ___________. lauren sold 140 boxes of cookies. 60% of the boxes she sold were to people her dad works with. of these boxes 1/4 contained mint cookies. how many boxes of mint cookies did Lauren sell to people her dad worked with? You are thinking of building a new machine that will save you $ 4 comma 000$4,000 in the first year. The machine will then begin to wear out so that the savings decline at a rate of 1 %1% per year forever. What is the present value of the savings if the interest rate is 9 %9% per year? Which one of the following statements is INCORRECT?A) The higher the GDP of a country, the more equal its income distribution.B) The primary sector accounts for a larger share of GDP for LDCs than MDCs. You purchased 200 shares of ABC common stock on margin at $50 per share. Assume the initial margin is 50% and the maintenance margin is 30%. You will get a margin call if the stock drops below what price? (Assume the stock pays no dividends, and ignore interest on the margin loan.) Raymond has been asked to serve as an expert for a discussion on hereditary diseases. The discussion will be informal and audience members will be able to ask questions of the various experts. Which small group format will Raymond participate in? One of your business clients has owned and operated his own business as a sole proprietor for over 30 years. He now wants to do some retirement/succession planning. On the issue of the legal structure/ownership of his business, the best advice for him would be to: