Which of the following is the term used to identify income of a tax-exempt organization that may be subject to taxation? a. loan to an Employee Stock Ownership Plan (ESOP) b. unrelated business taxable income c. prohibited transaction exclusion d. specific statutory exemption

What conditions must a property satisfy to be considered depreciable? Choose all the correct conditions below. A. It must be used in business or held to produce income. B. It must be something that wears out, decays, gets used up, becomes obsolete, or loses value from natural causes. C. It must have a determinable useful life, and the life must be longer than one year. D. It is not inventory, stock in trade, or investment property. E. It must be a personal property such as a copyright, patent, or franchise. F. It must not be used in business or held to produce income.

Which of the following characteristics of the unified transfer tax system are common to both testamentary transfers and lifetime gifts? A single applicable credit amount that offsets taxes due A step-up in income tax cost basis when the transfer is made An annual exclusion per donee per year from taxation A cumulative calculation using the same progressive tax rate schedule A) I, II, and III B) II and IV C) I, II, III, and IV D) I and IV

Compare the market multiple, LBO, and DCF models and discuss which one you prefer when it comes to the valuing of a private company. Explain.