# on 12-Jan-2018 (Fri)

#### Flashcard 1430365801740

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#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
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A spillover benefit (e.g., literacy programs) is called a [...] .)

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mption benefits of a good or service spill over onto those who are not producing or consuming the good or service; a spillover cost (e.g., pollution) is called a negative externality , a spillover benefit (e.g., literacy programs) is called a <span>positive externality .)<span><body><html>

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3.12. Markets Maximize Society’s Total Surplus
of a good. Hence, it is society’s marginal value curve for that good. Additionally, the market supply curve represents the marginal cost to society to produce each additional unit of that good, assuming no positive or negative externalities. (<span>An externality is a case in which production costs or the consumption benefits of a good or service spill over onto those who are not producing or consuming the good or service; a spillover cost (e.g., pollution) is called a negative externality , a spillover benefit (e.g., literacy programs) is called a positive externality .) At equilibrium, where demand and supply curves intersect, the highest price that someone is willing to pay is just equal to the lowest price that a seller is willing to acc

#### Flashcard 1442674511116

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#six-tips-for-working-with-the-brain
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[...] changed the way I see my work. He shares the science of how the basal ganglia in the brain builds habit loops that include a cue or trigger, the routine of behavior, and the reward for completing that routine.
Charles Duhigg's The Power of Habit

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Charles Duhigg's The Power of Habit changed the way I see my work. He shares the science of how the basal ganglia in the brain builds habit loops that include a cue or trigger, the routine of behavior, and the reward for

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as links to TED Talks, articles, and assignments to further hone their skills. This blended approach allows me to create three retrievals spaced with sleep, and it also starts to build the habits of the behaviors I am trying to cultivate. <span>Tip #6: Be a habit designer Ultimately, the goal of most learning activities is behavior change. No matter the topic, we are trying to elicit new and better behaviors in the learner. Charles Duhigg's The Power of Habit changed the way I see my work. He shares the science of how the basal ganglia in the brain builds habit loops that include a cue or trigger, the routine of behavior, and the reward for completing that routine. Over time, habits become well-grooved neural pathways that almost happen on autopilot, for example how you currently log in to your computer or how you get to work. When we are trying to create behavior change, we need to think about the habits that are currently in place and how to design new, better habits that will be more compelling than the comfort of the current ones. I now think of myself as a habit designer. All of my learning design starts with identifying the habit loop I hope to instill, and I work backward from there. Although retrievals are the key to moving conceptual learning into memory, repetition is the key for habit design. The more we fire neurons together, the stronger that neural pathway becomes, to the point that researchers can measure the neurons growing thicker. As talent development professionals, we are in the business of cultivating potential. Your organization as a whole—as well as every person in it—have unrealized ability, and your job is to cultivate that potential through the learning experiences you create. Work with the natural processes of the brain and nervous system to maximize the impact of your great work. Brain Science Resources Brain science is a burgeoning field and, within it, you will find a wide range of defined specialties from neurology to psychology to biology. This is a lis

#### Flashcard 1451595795724

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#back-to-high-point #conversation-tactics
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How do you callback the highpoint?
You are just going to refer to it in the context of your current topic.

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t let it go old like some month-old milk that you’re afraid to throw away because of the smell. You are going to callback to it. What do I mean by this? It’s simple, and it’s also a tactic used by just about every standup comedian. <span>You are just going to refer to it in the context of your current topic. For example, you talked about your favorite kind of dog earlier in the conversation. There was a high point about comparing yourself to a wiener dog because, well, it’s hilarious.

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#### Flashcard 1456894774540

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#48-laws-of-power
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To seduce, charm, deceive, and subtly outmaneuver your opponents are the [...]
arts of indirection

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If you can master the arts of indirection, learning to seduce, charm, deceive, and subtly outmaneuver your opponents, you will attain the heights of power.

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#### Flashcard 1473967951116

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Volkswagen discloses in its first note that the statements are prepared in compliance with [...] law.
German

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swagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with <span>German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figur

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3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no

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The earnings announcement often happens well before [...]
the company files its formal financial statements.

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The earnings announcement often happens well before the company files its formal financial statements.

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3.2. Other Sources of Information
evant current information on their websites, in press releases, and in conference calls with analysts and investors. One type of press release, which analysts often consider to be particularly important, is the periodic earnings announcement. <span>The earnings announcement often happens well before the company files its formal financial statements. Such earnings announcements are often followed by a conference call in which the company’s senior executives describe the company’s performance and answer questions posed by conference

#### Flashcard 1474355662092

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Preparing or collecting common-size financial statement data and [...] (which are measures of various aspects of corporate performance based on financial statement elements).
financial ratios

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Preparing or collecting common-size financial statement data (which scale data to directly reflect percentages [e.g., of sales] or changes [e.g., from the prior year]) and financial ratios (which are measures of various aspects of corporate performance based on financial statement elements). On the basis of common-size financial statements and financial ratios, analysts c

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4.3. Process Data
g statistical analyses, such as regressions or Monte Carlo simulations; performing equity valuation; performing sensitivity analyses; or using any other analytical tools or combination of tools that are available and appropriate for the task. <span>A comprehensive financial analysis at this stage would include the following: Reading and evaluating financial statements for each company being analyzed. This includes reading the notes and understanding what accounting standards have been used (for example, IFRS or US GAAP), what accounting choices have been made (for example, when to report revenue on the income statement), and what operating decisions have been made that affect reported financial statements (for example, leasing versus purchasing equipment). Making any needed adjustments to the financial statements to facilitate comparison when the unadjusted statements of the subject companies reflect differences in accounting standards, accounting choices, or operating decisions. Note that commonly used databases do not make such analyst adjustments. Preparing or collecting common-size financial statement data (which scale data to directly reflect percentages [e.g., of sales] or changes [e.g., from the prior year]) and financial ratios (which are measures of various aspects of corporate performance based on financial statement elements). On the basis of common-size financial statements and financial ratios, analysts can evaluate a company’s relative profitability, liquidity, leverage, efficiency, and valuation in relation to past results and/or peers’ results. <span><body><html>

#### Flashcard 1474429324556

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interest received by a bank on one of its loans would be considered part of [...]
operating activities because a bank is in the business of lending money.

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interest received by a bank on one of its loans would be considered part of operating activities because a bank is in the business of lending money.

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2. THE CLASSIFICATION OF BUSINESS ACTIVITIES
3; Accounting elements: Assets (A), Liabilities (L), Owners’ Equity (E), Revenue (R), and Expenses (X). Not all transactions fit neatly in this framework for purposes of financial statement presentation. For example, <span>interest received by a bank on one of its loans would be considered part of operating activities because a bank is in the business of lending money. In contrast, interest received on a bond investment by a restaurant may be more appropriately classified as an investing activity because the restaurant is not in the business of lendin

#### Flashcard 1476241788172

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If the sum of amounts on the left side of the account is greater than the sum of amounts on the right side of the account, the account has a [...].

debit balance equal to the difference

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he account, summing all the amounts on the right side of the account, and calculating the difference. If the sum of amounts on the left side of the account is greater than the sum of amounts on the right side of the account, the account has a <span>debit balance equal to the difference. If the sum of amounts on the right side of the account is greater than the sum of amounts on the left side of the account, the account has a credit balance. <span><

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APPENDIX 23: A DEBIT/CREDIT ACCOUNTING SYSTEM
the right side of the balance sheet (and accounting equation). Increases to liabilities and owners’ equity are recorded on the right side of a T-account; decreases to liabilities and owners’ equity are recorded on the left side. <span>At any point in time, the balance in an account is determined by summing all the amounts on the left side of the account, summing all the amounts on the right side of the account, and calculating the difference. If the sum of amounts on the left side of the account is greater than the sum of amounts on the right side of the account, the account has a debit balance equal to the difference. If the sum of amounts on the right side of the account is greater than the sum of amounts on the left side of the account, the account has a credit balance. A T-account is created for each asset account, liability account, and owners’ equity account. The collection of these T-accounts at the beginning of the year for a fictitio

#### Flashcard 1478186896652

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Business transactions are recorded in an accounting system that is based on [...]

the basic and expanded accounting equations.

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Business transactions are recorded in an accounting system that is based on the basic and expanded accounting equations. The accounting system tracks and summarizes data used to create financial statements: the balance sheet, income statement, statement of cash flows, and statement of owners’

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Summary
e basic accounting equation: Assets = Liabilities + Owners’ equity. The expanded accounting equation is Assets = Liabilities + Contributed capital + Beginning retained earnings + Revenue – Expenses – Dividends. <span>Business transactions are recorded in an accounting system that is based on the basic and expanded accounting equations. The accounting system tracks and summarizes data used to create financial statements: the balance sheet, income statement, statement of cash flows, and statement of owners’ equity. The statement of retained earnings is a component of the statement of owners’ equity. Accruals are a necessary part of the accounting process and are designed to allocate activity to the proper period for financial reporting purposes. The results of the accounting process are financial reports that are used by managers, investors, creditors, analysts, and others in making business decisions. An analyst uses the financial statements to make judgments on the financial health of a company. Company management can manipulate financial statements, and a perceptive analyst can use his or her understanding of financial statements to detect misrepresentations. <span><body><html>

#### Flashcard 1478429641996

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if a manufacturing company sells surplus land that is not needed, the transaction is reported as a [...] or [...].
gain

a loss

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if a manufacturing company sells surplus land that is not needed, the transaction is reported as a gain or a loss.

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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
dinary activities of the business. For example, when a manufacturing company sells its products, these transactions are reported as revenue, and the costs incurred to generate these revenues are expenses and are presented separately. However, <span>if a manufacturing company sells surplus land that is not needed, the transaction is reported as a gain or a loss. The amount of the gain or loss is the difference between the carrying value of the land and the price at which the land is sold. For example, in Exhibit 2, Kraft reports a loss (proceed

#### Flashcard 1478464507148

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To present expenses by function is sometimes referred to “[...]” method.
cost of sales

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To present their expenses by function, which is sometimes referred to “cost of sales” method.

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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
n would be grouping together expenses into a category such as cost of goods sold, which may include labour and material costs, depreciation, some salaries (e.g., salespeople’s), and other direct sales related expenses.8 Both Danone and Kraft <span>present their expenses by function, which is sometimes referred to “cost of sales” method. One subtotal often shown in an income statement is gross profit or gross margin (that is revenue less cost of sales). When an income statement shows a gross profit subt

#### Flashcard 1478497013004

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For companies [...], operating profit is useful in evaluating the performance of the individual business segments.

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For some companies composed of a number of separate business segments, operating profit can be useful in evaluating the performance of the individual business segments, because interest and tax expenses may be more relevant at the level of the overall com

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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
companies, before deducting interest expense. For financial companies, interest expense would be included in operating expenses and subtracted in arriving at operating profit because it relates to the operating activities for such companies. <span>For some companies composed of a number of separate business segments, operating profit can be useful in evaluating the performance of the individual business segments, because interest and tax expenses may be more relevant at the level of the overall company rather than an individual segment level. The specific calculations of gross profit and operating profit may vary by company, and a reader of financial statements can consult the notes to the statements to identify significant

#### Flashcard 1480020856076

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#power-of-habit
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This process—in which the brain converts a sequence of actions into an automatic routine—is known as “ [...] ,” and it’s at the root of how habits form

chunking

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#### Flashcard 1481613905164

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One possible approach to recognizing credit losses on customer receivables would be for the company to wait until such time as a customer defaulted and only then recognize the loss.

This is known as the [...]

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eir obligations (i.e., fail to pay). At the time of the sale, it is not known which customer will default. (If it were known that a particular customer would ultimately default, presumably a company would not sell on credit to that customer.) <span>One possible approach to recognizing credit losses on customer receivables would be for the company to wait until such time as a customer defaulted and only then recognize the loss ( direct write-off method ). Such an approach would usually not be consistent with generally accepted accounting principles. Under the matching principle, at the time revenue is recognized on a sale, a

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4.2. Issues in Expense Recognition
4.2.1. Doubtful Accounts When a company sells its products or services on credit, it is likely that some customers will ultimately default on their obligations (i.e., fail to pay). At the time of the sale, it is not known which customer will default. (If it were known that a particular customer would ultimately default, presumably a company would not sell on credit to that customer.) One possible approach to recognizing credit losses on customer receivables would be for the company to wait until such time as a customer defaulted and only then recognize the loss ( direct write-off method ). Such an approach would usually not be consistent with generally accepted accounting principles. Under the matching principle, at the time revenue is recognized on a sale, a company is required to record an estimate of how much of the revenue will ultimately be uncollectible. Companies make such estimates based on previous experience with uncollectible accounts. Such estimates may be expressed as a proportion of the overall amount of sales, the overall amount of receivables, or the amount of receivables overdue by a specific amount of time. The company records its estimate of uncollectible amounts as an expense on the income statement, not as a direct reduction of revenues. 4.2.2. Warranties At times, companies offer warranties on the products they sell. If the product proves deficient in some respect that is covered

#### Flashcard 1611264298252

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Through which accounts are the shareholders' equity statement and the balance sheet related?
contributed capital

retained earnings

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Equity
that occurred during the accounting period in components of the stockholders' equity section of the balance sheet. For example, it includes capital transactions with owners (e.g., issuing shares) and distributions to owners (i.e., dividends). <span>The shareholders' equity section of the balance sheet lists the items in contributed capital and retained earnings on the balance sheet date. <span><body><html>

#### Flashcard 1611292871948

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#balance-sheet-analysis
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It is the best-known liquidity measure.
Current Ratio

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Subject 5. Uses and Analysis of the Balance Sheet
, more importantly, cash flows. Each of the following ratios takes a slightly different view of cash or near-cash items. Current Ratio is a measure of the number of dollars of current assets available to meet current obligations. <span>It is the best-known liquidity measure. A current ratio of less than 1 indicates the company has negative working capital. Quick Ratio (Acid-Test Ratio) eliminates less liqu

#### Flashcard 1621315423500

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A compounding period is the [...] that interest is paid.
number of times per year

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Subject 1 Time Value of Money and Interest Rates
incorporate default risk. The return that borrowers pay thus comprises the nominal risk-free rate (real rate + an inflation premium) and a default risk premium. Compounding is the process of accumulating interest over a period of time. <span>A compounding period is the number of times per year that interest is paid. Continuous compounding occurs when the number of compounding periods becomes infinite; interest is added continuously. Discounting is the calculation of the present value of

#### Flashcard 1622013775116

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#tvm
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FV of an annuity factor
$$FV_n=A {(1+r)^n-1 \over r}$$

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#### Flashcard 1623550987532

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#discounted-cashflow-applications
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The IRR and NPV rules give the same accept or reject decision when projects are [...]
independent

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#### Flashcard 1623827025164

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#discounted-cashflow-applications
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[...] is of great importance for all investors because it is the foundation for all further analysis.
Performance measurement

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#### Flashcard 1625123065100

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If you forget the formula how can you calculate the FV of an annuity due?

This consists of two parts: the future value of one annuity payment now, and the future value of a regular annuity of (N -1) period.

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Subject 4. The Future Value and Present Value of a Series of Equal Cash Flows (Ordinary Annuities, Annuity Dues, and Perpetuities)
sent value of a regular annuity Annuity due has a first cash flow that is paid immediately (indexed at t = 0). In other words, the payments occur at the beginning of each period. <span>Future value of an annuity due This consists of two parts: the future value of one annuity payment now, and the future value of a regular annuity of (N -1) period. Calculate the two parts and add them together. Alternatively, you can use this formula: Note that, all other factors being equal, the future value of an annuity due is equal to the future value of an ordinary annuity multiplied by

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Bank discount formula

BDY= [...]

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Subject 4. Different Yield Measures of a U.S. Treasury Bill
earing instruments (e.g., bank certificates of deposit), and pure discount instruments (e.g., U.S. Treasury bills). Pure discount instruments such as T-bills are quoted differently than U.S. government bonds. They are quoted on a <span>bank discount basis rather than on a price basis: r BD = the annualized yield on a bank discount basis D = the dollar discount, which is equal to the difference between the face v

#### Flashcard 1633214401804

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The effective annual yield formula

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Subject 4. Different Yield Measures of a U.S. Treasury Bill
#13; Since a pure discount instrument (e.g., a T-bill) makes no interest payment, its HPY is (P 1 - P 0 )/P 0 . Note that HPY is computed on the basis of purchase price, not face value. It is not an annualized yield. <span>The effective annual yield is the annualized HPY on the basis of a 365-day year. It incorporates the effect of compounding interest. Money market yield (also known as CD equivalent yield) is the annualized HPY on the basis of a 360-day year using simple interest.

#### Flashcard 1641105198348

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The geometric mean is most frequently used to [...] or to compute the growth rate of a variable.
average rates of change over time

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#### Flashcard 1641164705036

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#has-images #quantitative-methods-basic-concepts #statistics
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The special cases of n = 3 for the Harmonic Mean are given by:

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Harmonic Mean The harmonic mean of n numbers x i (where i = 1, 2, ..., n) is: The special cases of n = 2 and n = 3 are given by: and so on. For n = 2, the harmonic mean is related to arithmetic mean A and geometric mea

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Subject 4. Measures of Center Tendency
, therefore, is not recommended for use as the only measure of central tendency. A further disadvantage of the mode is that many distributions have more than one mode. These distributions are called "multimodal." <span>Harmonic Mean The harmonic mean of n numbers x i (where i = 1, 2, ..., n) is: The special cases of n = 2 and n = 3 are given by: and so on. For n = 2, the harmonic mean is related to arithmetic mean A and geometric mean G by: The mean, median, and mode are equal in symmetric distributions. The mean is higher than the median in positively skewed distributions and lower than the median in negatively skewed dist

#### Flashcard 1644969200908

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The class width is from the [...] to the [...] limit
lower class limit

lower class

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#### Flashcard 1645904792844

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When the occurrence of one event has no influence on the probability of the occurrence of the other event.

Independent events

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Subject 4. Multiplication Rule for Independent Events
Two events, A and B, are independent if and only if P(A|B) = P(A), or equivalently, P(B|A) = P(B). That is, the occurrence of one event has no influence on the probability of the occurrence of the other event. In more detail, whether or not B occurs will have no effect on the probability of A and vice versa. Thus, there will be no difference between P(A|B) and P(A), and similarly

#### Flashcard 1645912657164

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If A and B are independent, the probability that events A and B both occur is:

P(A and B) = P(A) x P(B)

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Subject 4. Multiplication Rule for Independent Events
hite car}, then events A and B are clearly independent, as the one almost certainly has no bearing upon the other. Remember that if A and B are independent, Ac and Bc will also be independent. A and B are two events. <span>If A and B are independent, the probability that events A and B both occur is: P(A and B) = P(A) x P(B) In other words, the probability of A and B both occurring is the product of the probability of A and the probability of B. This relationship is known as the multiplication

#### Flashcard 1646439828748

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Expected value represents [...] of all possible outcomes.
the central value

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Subject 6. Expected Value, Variance, and Standard Deviation of a Random Variable
e outcomes will have a greater weighting in the overall calculation. For a random variable X, the expected value of X is denoted E(X). E(X) = P(x 1 ) x 1 + P(x 2 ) x 2 + ... + P(x n ) x n <span>In investment analysis, forecasts are frequently made using expected value, for example, the expected value of earnings per share, dividend per share, rate of return, etc. It represents the central value of all possible outcomes. Example The organizers of an outdoor event know that the success of the event depends on the weather. It costs \$50,000 to stage the event. If the weather is fa

#### Flashcard 1646638009612

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#investopedia
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[...] is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole.
Beta

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Beta
What is 'Beta' <span>Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which calculates the expected return of an asset based on its beta and expected market returns. Beta is also known as the beta co

#### Flashcard 1646657146124

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If a portfolio manager maintains constant weights of 60 percent in stocks and 40 percent in bonds for five years, the method is called a [...]
constant-proportions strategy.

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suppose that the portfolio manager maintains constant weights of 60 percent in stocks and 40 percent in bonds for all five years. This method is called a constant-proportions strategy.

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Now suppose that the portfolio manager maintains constant weights of 60 percent in stocks and 40 percent in bonds for all five years. This method is called a constant-proportions strategy. Because value is price multiplied by quantity, price fluctuation causes portfolio weights to change. As a result, the constant-proportions strategy requires rebalancing to restore the w

#### Flashcard 1646683098380

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#edx-probability
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The elements of a sample space should be [...]
mutually exclusive and collectively exhaustive.

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The elements of a sample space should be mutually exclusive and collectively exhaustive.

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Lesson 1. Sample space
ematical meaning. So we create a set that we usually denote by capital omega. That set is called the sample space and is the set of all possible outcomes of our experiment. <span>The elements of that set should have certain properties. Namely, the elements should be mutually exclusive and collectively exhaustive. What does that mean? Mutually exclusive means that, if at the end of the experiment, I tell you that this outcome happened, then it shoul

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Look out for the words "given that" or "you are told that," which will help you know that the probability is [...].
conditional

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Look out for the words "given that" or "you are told that," which will help you know that the probability is conditional. In the absence of such information, the probability will be unconditional.

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Subject 2. Unconditional, Conditional, and Joint Probabilities
oil price, P(B), is 0.4. The probability of an increase in airfare given an increase in oil price, P(A|B), is 0.3. The joint probability of an increase in both oil price and airfare, P(AB), is 0.3 x 0.4 = 0.12. Hint: <span>Look out for the words "given that" or "you are told that," which will help you know that the probability is conditional. In the absence of such information, the probability will be unconditional. The letter after the | is the event that we know has definitely occurred, whereas the letter before the | is the event whose probability we are trying to calculate. <span>

#### Flashcard 1646692535564

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#math-shit
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A stem-and-leaf graph, also called a stemplot, is a way to [...].
represent the distribution of numeric data

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A stem-and-leaf graph, also called a stemplot, is a way to represent the distribution of numeric data. It was invented by John Tukey, a mathematician, and is a quick way to picture data for numbers that are greater than 0.

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Stem-and-leaf graph
A stem-and-leaf graph, also called a stemplot, is a way to represent the distribution of numeric data. It was invented by John Tukey, a mathematician, and is a quick way to picture data for numbers that are greater than 0. I'll explain using an example. Suppose you have the following set of numbers (they might represent the number of home runs hit by a major league baseball player during

#### Flashcard 1646943931660

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A principle stating that the probability that A or B occurs (both occur) equals the probability that A occurs, plus the probability that B occurs, minus the probability that both A and B occur.

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#### Flashcard 1652339903756

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The number of ways that n objects can be labeled with k different labels, with n1 of the first type, n2 of the second type, and so on, with n1 + n2 + … + nk = n,

$$n!\over n1!n2!…nk!$$

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Multinomial Formula (General Formula for Labeling Problems). The number of ways that n objects can be labeled with kdifferent labels, with n 1 of the first type, n 2 of the second type, and so on, with n 1 + n 2 + … + n k = n, is given by $$n!\over n1!n2!…nk!$$

#### Flashcard 1652464946444

Tags
Question
nCr =

status measured difficulty not learned 37% [default] 0
Subject 10. Principles of Counting
A combination is a listing in which the order of listing does not matter. This describes the number of ways that we can choose r objects from a total of n objects, where the order in which the r objects is listed does not matter (<span>The combination formula, or the binomial formula): For example, if you select two of the ten stocks you are analyzing, how many ways can you select the stocks? 10! / [(10 - 2)! x 2!] = 45. &

#### Flashcard 1665395723532

Tags
#investopedia
Question
The [...] is a formula that allows to calculate the annual yield from a bond being sold at a discount.
bond equivalent yield (BEY)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

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The bond equivalent yield (BEY) is a formula that allows investors to calculate the annual yield from a bond being sold at a discount.

#### Original toplevel document

ww.wikihow.com/Calculate-Bond-Equivalent-Yield","th":158,"tu":"https://encrypted-tbn0.gstatic.com/images?q\u003dtbn:ANd9GcTA813Q8Z756kEAjsLd8nXIsWojDIpSoViNh_iMZJRJ4ym2kFj9mQ_UbDJdLw","tw":211} <span>The bond equivalent yield (BEY) is a formula that allows investors to calculate the annual yield from a bond being sold at a discount. Bond Equivalent Yield (BEY) Definition & Example | Investing Answers www.investinganswers.com/financial-dictionary/bonds/bond-equivalent-yield-bey-729 Feedback About this re

#### Annotation 1732138896652

#spanish
Él seguía deprimido, aunque dijo que había dormido bien.

#### Flashcard 1732140207372

Question
Él [...] deprimido, aunque dijo que había dormido bien.
seguía

status measured difficulty not learned 37% [default] 0

Open it
Él seguía deprimido, aunque dijo que había dormido bien.

#### Flashcard 1732199976204

Question
[Section [...] requires taxpayers to compute taxable income using accounting methods that clearly reflect income]
446

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732202335500

Question
[Section 446 [...] ]
Section 446 requires taxpayers to compute taxable income using accounting methods that clearly reflect income

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732204170508

Question
[Section [...] provides that FPHCI includes the excess of foreign currency gains over foreign currency losses (as defined in section 988(b)) attributable to section 988 transactions, other than transactions directly related to the business needs of the CFC.]
954(c)(1)(D)

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732206791948

Question
Section 954(c)(1)(D) provides that FPHCI includes the [...] (as defined in section 988(b)) attributable to section 988 transactions, other than transactions directly related to the business needs of the CFC.
excess of foreign currency gains over foreign currency losses

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732210986252

Question
Section 988 provides rules
for determining the source and character of gain or loss from certain foreign currency transactions

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732212559116

Question
Section 954 defines
foreign base company income (FBCI)

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732214131980

Question
Section 954 defines foreign base company income (FBCI) , which generally is income earned by a CFC that is taken into account in computing the amount that a United States shareholder of the CFC must include in income under section
951(a)(1)(A)

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732215966988

Question
Under section 954(a)(1), FBCI includes
FPHCI

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732217539852

Question
Under section 954(a)(1), FBCI includes FPHCI, which is defined in
section 954(c)

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732219899148

Question
The excess of foreign currency gains over foreign currency losses from section 988 transactions is generally included in
FPHCI

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732221472012

Question
The excess of foreign currency gains over foreign currency losses from section 988 transactions is generally included in FPHCI pursuant to section
954(c)(1)(D).

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Flashcard 1732223044876

Question
Section 988 transactions generally include the following:
- the accrual of any item of income or expense that is to be paid or received in a nonfunctional currency after the date of accrual;
- lending or borrowing in a nonfunctional currency;
- entering into or acquiring a forward, future, option, or similar contract denominated in a nonfunctional currency;
- and the disposition of nonfunctional currency.

status measured difficulty not learned 37% [default] 0

#### pdf

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#### Annotation 1732226190604

Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.

#### pdf

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#### Flashcard 1732230122764

Question
Thus, accruals in connection with [...], are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.
ordinary business transactions, such as purchases and sales of inventory or the provision of services

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

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Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined un

#### Original toplevel document (pdf)

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#### Flashcard 1732231695628

Question
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, [...] if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.
are section 988 transactions

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.

#### Original toplevel document (pdf)

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#### Flashcard 1732233268492

Question
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if [...], as determined under §1.985-1.
the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under §1.985-1.

#### Original toplevel document (pdf)

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#### Flashcard 1732234841356

Question
Thus, accruals in connection with ordinary business transactions, such as purchases and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under [...].
§1.985-1

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
and sales of inventory or the provision of services, are section 988 transactions if the receivable or payable is denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency, as determined under <span>§1.985-1. <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732236676364

Notwithstanding the general rule that includes the excess of foreign currency gains over foreign currency losses from section 988 transactions in FPHCI, section 954(c)(1)(D) excludes from FPHCI any foreign currency gain or loss attributable to a transaction directly related to the business needs of the CFC (business needs exclusion).

#### pdf

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#### Flashcard 1732238249228

Question
Notwithstanding the general rule that includes the excess of foreign currency gains over foreign currency losses from section 988 transactions in FPHCI, section [...] excludes from FPHCI any foreign currency gain or loss attributable to a transaction directly related to the business needs of the CFC (business needs exclusion).
954(c)(1)(D)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Notwithstanding the general rule that includes the excess of foreign currency gains over foreign currency losses from section 988 transactions in FPHCI, section 954(c)(1)(D) excludes from FPHCI any foreign currency gain or loss attributable to a transaction directly related to the business needs of the CFC (business needs exclusion). </bod

#### Original toplevel document (pdf)

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#### Flashcard 1732239822092

Question
Notwithstanding the general rule that includes the excess of foreign currency gains over foreign currency losses from section 988 transactions in FPHCI, section 954(c)(1)(D) [...].
excludes from FPHCI any foreign currency gain or loss attributable to a transaction directly related to the business needs of the CFC (business needs exclusion)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Notwithstanding the general rule that includes the excess of foreign currency gains over foreign currency losses from section 988 transactions in FPHCI, section 954(c)(1)(D) excludes from FPHCI any foreign currency gain or loss attributable to a transaction directly related to the business needs of the CFC (business needs exclusion).

#### Original toplevel document (pdf)

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#### Annotation 1732242705676

To qualify for the business needs exclusion, a foreign currency gain or loss must, in addition to satisfying other requirements, arise from a transaction entered into, or property used, in the normal course of the CFC’s business that does not itself (and could not reasonably be expected to) give rise to subpart F income (as defined in section 952) other than foreign currency gain or loss. See §1.954-2(g)(2)(ii)(B)(1).

#### pdf

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#### Flashcard 1732244278540

Question
To qualify for the business needs exclusion, a foreign currency gain or loss must, in addition to satisfying other requirements, arise from a transaction entered into, or property used, in the normal course of the CFC’s business that [...] (as defined in section 952) other than foreign currency gain or loss. See §1.954-2(g)(2)(ii)(B)(1).
does not itself (and could not reasonably be expected to) give rise to subpart F income

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
To qualify for the business needs exclusion, a foreign currency gain or loss must, in addition to satisfying other requirements, arise from a transaction entered into, or property used, in the normal course of the CFC’s business that <span>does not itself (and could not reasonably be expected to) give rise to subpart F income (as defined in section 952) other than foreign currency gain or loss. See §1.954-2(g)(2)(ii)(B)(1). <span><body><html>

#### Original toplevel document (pdf)

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#### Flashcard 1732245851404

Question
To qualify for the business needs exclusion, a foreign currency gain or loss must, in addition to satisfying other requirements, arise from a transaction entered into, or property used, in the normal course of the CFC’s business that does not itself (and could not reasonably be expected to) give rise to subpart F income (as defined in section [...]) other than foreign currency gain or loss. See §1.954-2(g)(2)(ii)(B)(1).
952

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
ing other requirements, arise from a transaction entered into, or property used, in the normal course of the CFC’s business that does not itself (and could not reasonably be expected to) give rise to subpart F income (as defined in section <span>952) other than foreign currency gain or loss. See §1.954-2(g)(2)(ii)(B)(1). <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732247424268

Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction.

#### pdf

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#### Flashcard 1732248997132

Question
Generally, [...] are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction.
bona fide hedging transactions

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered i

#### Original toplevel document (pdf)

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#### Flashcard 1732250569996

Question
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §[...], except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction.
1.1221-2(a) through (d)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property o

#### Original toplevel document (pdf)

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#### Flashcard 1732251880716

Question
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also [...].
includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
><head> Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction. <html>

#### Original toplevel document (pdf)

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#### Flashcard 1732253715724

Question
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the [...] with respect to section 1231 property or a section 988 transaction.
normal course of business primarily to manage risk

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the <span>normal course of business primarily to manage risk with respect to section 1231 property or a section 988 transaction. <span><body><html>

#### Original toplevel document (pdf)

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#### Flashcard 1732255288588

Question
Generally, bona fide hedging transactions are transactions that meet the requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section [...] or a section 988 transaction.
1231 property or a section 988 transaction.

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
e requirements for a hedging transaction under §1.1221-2(a) through (d), except that a bona fide hedging transaction also includes a transaction entered into in the normal course of business primarily to manage risk with respect to section <span>1231 property or a section 988 transaction. <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732257647884

Under §1.1221-2(b), a hedging transaction is defined as a transaction that a taxpayer enters into in the normal course of its trade or business primarily to manage the risk of price changes or currency fluctuations with respect to ordinary property that is held or to be held by the taxpayer, or to manage the risk of interest rate or price changes or currency fluctuations with respect to borrowings made or to be made, or ordinary obligations incurred or to be incurred, by the taxpayer

#### pdf

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#### Flashcard 1732259220748

Question
[...], a hedging transaction is defined as a transaction that a taxpayer enters into in the normal course of its trade or business primarily to manage the risk of price changes or currency fluctuations with respect to ordinary property that is held or to be held by the taxpayer, or to manage the risk of interest rate or price changes or currency fluctuations with respect to borrowings made or to be made, or ordinary obligations incurred or to be incurred, by the taxpayer
Under §1.1221-2(b)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Under §1.1221-2(b), a hedging transaction is defined as a transaction that a taxpayer enters into in the normal course of its trade or business primarily to manage the risk of price changes or currency

#### Original toplevel document (pdf)

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#### Flashcard 1732260793612

Question
Under §1.1221-2(b), a hedging transaction is defined as a transaction that a taxpayer enters into in the [...]
normal course of its trade or business primarily to manage the risk of price changes or currency fluctuations with respect to ordinary property that is held or to be held by the taxpayer, or to manage the risk of interest rate or price changes or currency fluctuations with respect to borrowings made or to be made, or ordinary obligations incurred or to be incurred, by the taxpayer

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
Under §1.1221-2(b), a hedging transaction is defined as a transaction that a taxpayer enters into in the normal course of its trade or business primarily to manage the risk of price changes or currency fluctuations with respect to ordinary property that is held or to be held by the taxpayer, or to manage the risk of interest rate or price changes or currency fluctuations with respect to borrowings made or to be made, or ordinary obligations incurred or to be incurred, by the taxpayer

#### Original toplevel document (pdf)

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#### Annotation 1732264725772

Transactions that manage risks related to assets that would produce capital gain or loss on disposition (capital assets), or assets owned or liabilities owed by a related party, do not qualify as hedging transactions under §1.1221-2(b).

#### pdf

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#### Flashcard 1732266298636

Question
ransactions that manage risks related to assets that would produce capital gain or loss on disposition (capital assets), or assets owned or liabilities owed by a related party, [...]
do not qualify as hedging transactions under §1.1221-2(b).

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
ransactions that manage risks related to assets that would produce capital gain or loss on disposition (capital assets), or assets owned or liabilities owed by a related party, do not qualify as hedging transactions under §1.1221-2(b).

#### Original toplevel document (pdf)

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#### Annotation 1732267871500

To qualify as a bona fide hedging transaction, the transaction must be clearly identified as a hedging transaction before the end of the day on which the CFC acquired, originated, or entered into the transaction. See §§1.1221-2(f) and 1.954-2(a)(4)(ii)(A) and (B)

#### pdf

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#### Flashcard 1732269444364

Question
To qualify as a bona fide hedging transaction, the transaction must be clearly identified as [...]. See §§1.1221-2(f) and 1.954-2(a)(4)(ii)(A) and (B)
a hedging transaction before the end of the day on which the CFC acquired , originated, or entered into the transaction

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
To qualify as a bona fide hedging transaction, the transaction must be clearly identified as a hedging transaction before the end of the day on which the CFC acquired, originated, or entered into the transaction. See §§1.1221-2(f) and 1.954-2(a)(4)(ii)(A) and (B)

#### Original toplevel document (pdf)

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#### Flashcard 1732272065804

Question
To qualify as a bona fide hedging transaction, the transaction must be clearly identified as a hedging transaction before the end of the day on which the CFC acquired, originated, or entered into the transaction. See §[...]
§1.1221-2(f) and 1.954-2(a)(4)(ii)(A) and (B)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
To qualify as a bona fide hedging transaction, the transaction must be clearly identified as a hedging transaction before the end of the day on which the CFC acquired, originated, or entered into the transaction. See §<span>§1.1221-2(f) and 1.954-2(a)(4)(ii)(A) and (B) <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732274425100

A regular dealer is a CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business. See §1.954-2(a)(4)(iv)

#### pdf

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#### Flashcard 1732275997964

Question
[...] is a CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business. See §1.954-2(a)(4)(iv)
A regular dealer

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
A regular dealer is a CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly

#### Original toplevel document (pdf)

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#### Flashcard 1732277570828

Question
A regular dealer is a [...]. See §1.954-2(a)(4)(iv)
CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
A regular dealer is a CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business. See §1.954-2(a)(4)(iv)

#### Original toplevel document (pdf)

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#### Flashcard 1732279143692

Question
A regular dealer is a CFC that regularly and actively offers to, and in fact does, purchase property from and sell property to unrelated customers in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business. [...]
See §1.954-2(a)(4)(iv)

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
s in the ordinary course of business, or that regularly and actively offers to, and in fact does, enter into, assume, offset, assign or otherwise terminate positions in property with unrelated customers in the ordinary course of business. <span>See §1.954-2(a)(4)(iv) <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732280716556

Under section 954(c)(1)(D), although a foreign currency loss that does not qualify for the business needs exclusion reduces the amount of foreign currency gain that is included in FPHCI, an excess of foreign currency losses over foreign currency gains from section 988 transactions generally does not reduce FPHCI. Such a net foreign currency loss does, however, reduce earnings and profits for purposes of the current earnings and profits limitation on subpart F income in section 952(c)(1)

#### pdf

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#### Flashcard 1732282289420

Question
Under section 954(c)(1)(D), although a foreign currency loss that does not qualify for the business needs exclusion reduces the amount of foreign currency gain that is included in FPHCI, an excess of foreign currency losses over foreign currency gains from section 988 transactions generally [...]. Such a net foreign currency loss does, however, reduce earnings and profits for purposes of the current earnings and profits limitation on subpart F income in section 952(c)(1
does not reduce FPHCI

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
ncy loss that does not qualify for the business needs exclusion reduces the amount of foreign currency gain that is included in FPHCI, an excess of foreign currency losses over foreign currency gains from section 988 transactions generally <span>does not reduce FPHCI. Such a net foreign currency loss does, however, reduce earnings and profits for purposes of the current earnings and profits limitation on subpart F income in section 952(c)(1 </sp

#### Original toplevel document (pdf)

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#### Flashcard 1732283862284

Question
Under section 954(c)(1)(D), although a foreign currency loss that does not qualify for the business needs exclusion reduces the amount of foreign currency gain that is included in FPHCI, an excess of foreign currency losses over foreign currency gains from section 988 transactions generally does not reduce FPHCI. Such a net foreign currency loss does, however, [...]
reduce earnings and profits for purposes of the current earnings and profits limitation on subpart F income in section 952(c)(1

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
the amount of foreign currency gain that is included in FPHCI, an excess of foreign currency losses over foreign currency gains from section 988 transactions generally does not reduce FPHCI. Such a net foreign currency loss does, however, <span>reduce earnings and profits for purposes of the current earnings and profits limitation on subpart F income in section 952(c)(1 <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732286221580

8 In order for the business needs exclusion to apply to exclude foreign currency gain and loss from the computation of FPHCI, the foreign currency gain or loss must arise from a transaction or property that does not itself (and could not reasonably be expected to) give rise to any subpart F income other than foreign currency gain or loss.

#### pdf

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#### Flashcard 1732287794444

Question
8 In order for the business needs exclusion to apply to exclude foreign currency gain and loss from the computation of FPHCI, the foreign currency gain or loss must [...]
arise from a transaction or property that does not itself (and could not reasonably be expected to) give rise to any subpart F income other than foreign currency gain or loss.

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
8 In order for the business needs exclusion to apply to exclude foreign currency gain and loss from the computation of FPHCI, the foreign currency gain or loss must arise from a transaction or property that does not itself (and could not reasonably be expected to) give rise to any subpart F income other than foreign currency gain or loss.

#### Original toplevel document (pdf)

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#### Annotation 1732289367308

For example, foreign currency gains and losses related to the purchase and sale of inventory are excluded from the computation of FPHCI if none of the income from the purchase and sale is subpart F income under section 952.

#### pdf

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#### Flashcard 1732290940172

Question
For example, foreign currency gains and losses related to the purchase and sale of inventory are [...] if none of the income from the purchase and sale is subpart F income under section 952.
excluded from the computation of FPHCI

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
For example, foreign currency gains and losses related to the purchase and sale of inventory are excluded from the computation of FPHCI if none of the income from the purchase and sale is subpart F income under section 952.

#### Original toplevel document (pdf)

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#### Flashcard 1732292513036

Question
For example, foreign currency gains and losses related to the purchase and sale of inventory are excluded from the computation of FPHCI if [...].
none of the income from the purchase and sale is subpart F income under section 952

status measured difficulty not learned 37% [default] 0

#### Parent (intermediate) annotation

Open it
For example, foreign currency gains and losses related to the purchase and sale of inventory are excluded from the computation of FPHCI if none of the income from the purchase and sale is subpart F income under section 952.

#### Original toplevel document (pdf)

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#### Annotation 1732294872332

if the transaction or property gives rise to, or could reasonably be expected to give rise to, any amount of subpart F income (other than foreign currency gain or loss), none of the foreign currency gain or loss attributable to the transaction or property would qualify for the business needs exclusion

#### pdf

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#### Flashcard 1732296445196

Question
if the transaction or property gives rise to, or could reasonably be expected to give rise to, any amount of subpart F income (other than foreign currency gain or loss), [...]
none of the foreign currency gain or loss attributable to the transaction or property would qualify for the business needs exclusion

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if the transaction or property gives rise to, or could reasonably be expected to give rise to, any amount of subpart F income (other than foreign currency gain or loss), none of the foreign currency gain or loss attributable to the transaction or property would qualify for the business needs exclusion

#### Original toplevel document (pdf)

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#### Flashcard 1732298018060

Question
[...], none of the foreign currency gain or loss attributable to the transaction or property would qualify for the business needs exclusion
if the transaction or property gives rise to, or could reasonably be expected to give rise to, any amount of subpart F income (other than foreign currency gain or loss)

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#### Parent (intermediate) annotation

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if the transaction or property gives rise to, or could reasonably be expected to give rise to, any amount of subpart F income (other than foreign currency gain or loss), none of the foreign currency gain or loss attributable to the transaction or property would qualify for the business needs exclusion

#### Original toplevel document (pdf)

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#### Annotation 1732299590924

Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation.

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#### Annotation 1732301163788

if even a de minimis amount of income or gain from the transaction or property is subpart F income

#### Parent (intermediate) annotation

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Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is inclu

#### Original toplevel document (pdf)

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#### Flashcard 1732302736652

Question
Thus, there is a cliff effect: [...], the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation.
if even a de minimis amount of income or gain from the transaction or property is subpart F income

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#### Parent (intermediate) annotation

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Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is inclu

#### Original toplevel document (pdf)

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#### Annotation 1732304309516

the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation

#### Parent (intermediate) annotation

Open it
Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation.

#### Original toplevel document (pdf)

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#### Flashcard 1732305882380

Question
Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, [...]
the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation.

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#### Parent (intermediate) annotation

Open it
Thus, there is a cliff effect: if even a de minimis amount of income or gain from the transaction or property is subpart F income, the entire amount of the foreign currency gain or loss from the transaction or property, or from a bona fide hedging transaction with respect to the transaction or property, is included in the FPHCI computation.

#### Original toplevel document (pdf)

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#### Annotation 1732307455244

A CFC may conduct business through a qualified business unit (as defined in §1.989(a)-1) (QBU) that is not treated as a separate entity for federal income tax purposes, either because it is a branch or division of the CFC or because it is a business entity that is disregarded as separate from its owner.

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#### Flashcard 1732309028108

Question
A CFC may conduct business through a qualified business unit (as defined in §[...]) (QBU) that is not treated as a separate entity for federal income tax purposes, either because it is a branch or division of the CFC or because it is a business entity that is disregarded as separate from its owner.
1.989(a)-1

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A CFC may conduct business through a qualified business unit (as defined in §1.989(a)-1) (QBU) that is not treated as a separate entity for federal income tax purposes, either because it is a branch or division of the CFC or because it is a business entity that is disreg

#### Original toplevel document (pdf)

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#### Flashcard 1732310600972

Question
A CFC may conduct business through a qualified business unit (as defined in §1.989(a)-1) (QBU) that is [...] for federal income tax purposes, either because it is a branch or division of the CFC or because it is a business entity that is disregarded as separate from its owner.
not treated as a separate entity

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A CFC may conduct business through a qualified business unit (as defined in §1.989(a)-1) (QBU) that is not treated as a separate entity for federal income tax purposes, either because it is a branch or division of the CFC or because it is a business entity that is disregarded as separate from its owner. </spa

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#### Annotation 1732312435980

Under generally accepted accounting principles in the United States (U.S. GAAP), a majority owner of a business entity (parent corporation) must consolidate the accounts of the majority-owned entity, including a foreign entity, with its own accounts for purposes of financial reporting.

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#### Flashcard 1732314008844

Question
Under generally accepted accounting principles in the United States (U.S. GAAP), a majority owner of a business entity (parent corporation) [...]
must consolidate the accounts of the majority-owned entity, including a foreign entity, with its own accounts for purposes of financial reporting.

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#### Parent (intermediate) annotation

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Under generally accepted accounting principles in the United States (U.S. GAAP), a majority owner of a business entity (parent corporation) must consolidate the accounts of the majority-owned entity, including a foreign entity, with its own accounts for purposes of financial reporting.

#### Original toplevel document (pdf)

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#### Annotation 1732315843852

Under U.S. GAAP, the income, assets, liabilities, and other financial results of foreign operations that are conducted in a functional currency that differs from the consolidated parent’s functional currency must be translated into the functional currency of the consolidated parent.

#### pdf

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#### Flashcard 1732317416716

Question
Under U.S. GAAP, the income, assets, liabilities, and other financial results of foreign operations that are conducted in a [...]
functional currency that differs from the consolidated parent’s functional currency must be translated into the functional currency of the consolidated parent.

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#### Parent (intermediate) annotation

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Under U.S. GAAP, the income, assets, liabilities, and other financial results of foreign operations that are conducted in a functional currency that differs from the consolidated parent’s functional currency must be translated into the functional currency of the consolidated parent.

#### Original toplevel document (pdf)

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#### Annotation 1732318989580

Foreign currency gains or losses arising from the translation are recorded in a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet.

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#### Flashcard 1732320562444

Question
Foreign currency gains or losses arising from the translation are recorded in [...]
a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet.

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#### Parent (intermediate) annotation

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Foreign currency gains or losses arising from the translation are recorded in a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet.

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#### Annotation 1732322397452

Foreign currency gains or losses arising from the translation are recorded in a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet. See generally Accounting Standards Codification (ASC) 830-30-45.

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#### Flashcard 1732324232460

Question
Foreign currency gains or losses arising from the translation are recorded in a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet. See generally Accounting [...]
Standards Codification (ASC) 830-30-45.

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Foreign currency gains or losses arising from the translation are recorded in a “cumulative translation adjustment” account and reported as a component of shareholders’ equity on the balance sheet. See generally Accounting <span>Standards Codification (ASC) 830-30-45. <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732325805324

Foreign currency gain or loss from transactions that effectively hedge the risk of currency fluctuations in the net equity investment in foreign operations also are recorded in the cumulative translation adjustment account. See ASC 815-35-35.

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#### Flashcard 1732327640332

Question
Foreign currency gain or loss from transactions that effectively hedge the risk of currency fluctuations in the net equity investment in foreign operations also are recorded in the [...]. See ASC 815-35-35.

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#### Parent (intermediate) annotation

Open it
Foreign currency gain or loss from transactions that effectively hedge the risk of currency fluctuations in the net equity investment in foreign operations also are recorded in the cumulative translation adjustment account. See ASC 815-35-35.

#### Original toplevel document (pdf)

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#### Flashcard 1732329213196

Question
Foreign currency gain or loss from transactions that effectively hedge the risk of currency fluctuations in the net equity investment in foreign operations also are recorded in the cumulative translation adjustment account. See ASC [...]
815-35-35.

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#### Parent (intermediate) annotation

Open it
Foreign currency gain or loss from transactions that effectively hedge the risk of currency fluctuations in the net equity investment in foreign operations also are recorded in the cumulative translation adjustment account. See ASC <span>815-35-35. <span><body><html>

#### Original toplevel document (pdf)

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#### Annotation 1732331048204

A cumulative translation adjustment is not taken into account in computing the income of the consolidated group until the relevant operations are disposed of or liquidated.

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#### Flashcard 1732332621068

Question
A cumulative translation adjustment is [...]
not taken into account in computing the income of the consolidated group until the relevant operations are disposed of or liquidated.

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A cumulative translation adjustment is not taken into account in computing the income of the consolidated group until the relevant operations are disposed of or liquidated.

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#### Annotation 1732334193932

The transactions that a CFC uses to manage its exchange rate risk with respect to its net investment in a QBU are typically section 988 transactions.

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#### Flashcard 1732335766796

Question
The transactions that a CFC uses to manage its exchange rate risk with respect to its net investment in a QBU are typically section [...]
988 transactions.

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#### Parent (intermediate) annotation

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The transactions that a CFC uses to manage its exchange rate risk with respect to its net investment in a QBU are typically section 988 transactions.

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#### Annotation 1732337339660

Neither the Code nor the section 954 regulations provide specific guidance on whether a transaction entered into to manage exchange rate risk arising from a CFC’s net investment in a QBU can qualify as a bona fide hedging transaction eligible for the business needs exclusion.

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#### Flashcard 1732338912524

Question
[...] a transaction entered into to manage exchange rate risk arising from a CFC’s net investment in a QBU can qualify as a bona fide hedging transaction eligible for the business needs exclusion.
Neither the Code nor the section 954 regulations provide specific guidance on whether

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#### Parent (intermediate) annotation

Open it
Neither the Code nor the section 954 regulations provide specific guidance on whether a transaction entered into to manage exchange rate risk arising from a CFC’s net investment in a QBU can qualify as a bona fide hedging transaction eligible for the business needs exc

#### Original toplevel document (pdf)

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#### Annotation 1732340485388

A transaction that manages the risk of price or currency fluctuation with respect to a CFC’s net investment in a subsidiary CFC is not considered a hedging transaction for federal income tax purposes.

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#### Flashcard 1732342058252

Question
A transaction that manages the risk of price or currency fluctuation with respect to a CFC’s net investment in a subsidiary CFC is [...] for federal income tax purposes.
not considered a hedging transaction

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A transaction that manages the risk of price or currency fluctuation with respect to a CFC’s net investment in a subsidiary CFC is not considered a hedging transaction for federal income tax purposes.

#### Original toplevel document (pdf)

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#### Flashcard 1732343631116

Tags
#logic
Question
J M Bocheński wrote [...] in 1961
A History of Formal Logic

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According to A History of Formal Logic (1961) by the distinguished J M Bocheński, the golden periods for logic were the ancient Greek period, the medieval scholastic period, and the mathematical period of the 19th and 20th centurie

#### Original toplevel document

The rise and fall and rise of logic | Aeon Essays
the hands of thinkers such as George Boole, Gottlob Frege, Bertrand Russell, Alfred Tarski and Kurt Gödel, it’s clear that Kant was dead wrong. But he was also wrong in thinking that there had been no progress since Aristotle up to his time. <span>According to A History of Formal Logic (1961) by the distinguished J M Bocheński, the golden periods for logic were the ancient Greek period, the medieval scholastic period, and the mathematical period of the 19th and 20th centuries. (Throughout this piece, the focus is on the logical traditions that emerged against the background of ancient Greek logic. So Indian and Chinese logic are not included, but medieval Ara

#### Annotation 1732347301132

Reflecting on the history of logic forces us to reflect on what it means to be a reasonable cognitive agent, to think properly.

dgeman The history of logic should be of interest to anyone with aspirations to thinking that is correct, or at least reasonable. This story illustrates different approaches to intellectual enquiry and human cognition more generally. <span>Reflecting on the history of logic forces us to reflect on what it means to be a reasonable cognitive agent, to think properly. Is it to engage in discussions with others? Is it to think for ourselves? Is it to perform calculations? In the Critique of Pure Reason (1781), Immanuel Kant stated that no progress in

#### Annotation 1732349398284

Section 1.446-4 generally requires gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged.

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#### Flashcard 1732350971148

Question
Section [...] generally requires gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged.
1.446-4

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Section 1.446-4 generally requires gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged. </sp

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#### Flashcard 1732352806156

Question
Section 1.446-4 generally requires gain or loss from a hedging transaction, as defined in §[...], to be taken into account at the same time as the gain or loss from the item being hedged.
1.1221-2(b)

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Section 1.446-4 generally requires gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged.

#### Original toplevel document (pdf)

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#### Flashcard 1732354379020

Question
Section 1.446-4 generally requires [...]
gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged.

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#### Parent (intermediate) annotation

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Section 1.446-4 generally requires gain or loss from a hedging transaction, as defined in §1.1221-2(b), to be taken into account at the same time as the gain or loss from the item being hedged.

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#### Annotation 1732355951884

bona fide hedging transactions under §1.954-2(a)(4)(ii) include both hedging transactions as defined in §1.1221-2(b) and transactions that manage the risk of price or currency fluctuation with respect to section 1231 property and section 988 transactions

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#### Flashcard 1732357524748

Question
bona fide hedging transactions under §1.[...]nclude both hedging transactions as defined in §1.1221-2(b) and transactions that manage the risk of price or currency fluctuation with respect to section 1231 property and section 988 transactions
954-2(a)(4)(ii) i

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#### Parent (intermediate) annotation

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bona fide hedging transactions under §1.954-2(a)(4)(ii) include both hedging transactions as defined in §1.1221-2(b) and transactions that manage the risk of price or currency fluctuation with respect to section 1231 property and section 988

#### Original toplevel document (pdf)

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#### Flashcard 1732359097612

Question
bona fide hedging transactions under §1.954-2(a)(4)(ii) include [...]
both hedging transactions as defined in §1.1221-2(b) and transactions that manage the risk of price or currency fluctuation with respect to section 1231 property and section 988 transactions

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#### Parent (intermediate) annotation

Open it
bona fide hedging transactions under §1.954-2(a)(4)(ii) include both hedging transactions as defined in §1.1221-2(b) and transactions that manage the risk of price or currency fluctuation with respect to section 1231 property and section 988 transactions

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#### Annotation 1732387147020

R&D Maintains R&D credit For tax years beginning after 12/31/2021, certain Section 174 R&E expenditures to be capitalized and amortized over 5 years (15 years for expenditures outside the US).

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Question

# R&D

Maintains R&D credit For tax years beginning after 12/31/2021, certain Section [...] R&E expenditures to be capitalized and amortized over 5 years (15 years for expenditures outside the US).
174

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R&D Maintains R&D credit For tax years beginning after 12/31/2021, certain Section 174 R&E expenditures to be capitalized and amortized over 5 years (15 years for expenditures outside the US).

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#### Annotation 1732395273484

#hilbert-space

The mathematical concept of a Hilbert space, named after David Hilbert, generalizes the notion of Euclidean space. It extends the methods of vector algebra and calculus from the two-dimensional Euclidean plane and three-dimensional space to spaces with any finite or infinite number of dimensions. A Hilbert space is an abstract vector space possessing the structure of an inner product that allows length and angle to be measured. Furthermore, Hilbert spaces are complete: there are enough limits in the space to allow the techniques of calculus to be used.

Hilbert space - Wikipedia
e state of a vibrating string can be modeled as a point in a Hilbert space. The decomposition of a vibrating string into its vibrations in distinct overtones is given by the projection of the point onto the coordinate axes in the space. <span>The mathematical concept of a Hilbert space, named after David Hilbert, generalizes the notion of Euclidean space. It extends the methods of vector algebra and calculus from the two-dimensional Euclidean plane and three-dimensional space to spaces with any finite or infinite number of dimensions. A Hilbert space is an abstract vector space possessing the structure of an inner product that allows length and angle to be measured. Furthermore, Hilbert spaces are complete: there are enough limits in the space to allow the techniques of calculus to be used. Hilbert spaces arise naturally and frequently in mathematics and physics, typically as infinite-dimensional function spaces. The earliest Hilbert spaces were studied from this point o

#### Annotation 1732398681356

#functional-analysis

Functional analysis is a branch of mathematical analysis, the core of which is formed by the study of vector spaces endowed with some kind of limit-related structure (e.g. inner product, norm, topology, etc.) and the linear functions defined on these spaces and respecting these structures in a suitable sense. The historical roots of functional analysis lie in the study of spaces of functions and the formulation of properties of transformations of functions such as the Fourier transform as transformations defining continuous, unitary etc. operators between function spaces. This point of view turned out to be particularly useful for the study of differential and integral equations.

Functional analysis - Wikipedia
analysis (psychology). [imagelink] One of the possible modes of vibration of an idealized circular drum head. These modes are eigenfunctions of a linear operator on a function space, a common construction in functional analysis. <span>Functional analysis is a branch of mathematical analysis, the core of which is formed by the study of vector spaces endowed with some kind of limit-related structure (e.g. inner product, norm, topology, etc.) and the linear functions defined on these spaces and respecting these structures in a suitable sense. The historical roots of functional analysis lie in the study of spaces of functions and the formulation of properties of transformations of functions such as the Fourier transform as transformations defining continuous, unitary etc. operators between function spaces. This point of view turned out to be particularly useful for the study of differential and integral equations. The usage of the word functional goes back to the calculus of variations, implying a function whose argument is a function and the name was first used in Hadamard's 1910 book on that

#### Annotation 1732401040652

#logic
The third of them, in contrast, exemplifies an entirely different rationale for logic, namely as a foundational branch of mathematics

The rise and fall and rise of logic | Aeon Essays
grand periods in the history of logic, two of them, the ancient period and the medieval scholastic period, were closely connected to the idea that the primary application of logic is for practices of debating such as dialectical disputations. <span>The third of them, in contrast, exemplifies an entirely different rationale for logic, namely as a foundational branch of mathematics, not in any way connected to the ordinary languages in which debates are typically conducted. The hiatus between the second and third periods can be explained by the fall from grace of

#### Annotation 1732402613516

#logic
I n the modern period, a number of philosophers came to see the nature of logic in terms of the faculties of mind.

The rise and fall and rise of logic | Aeon Essays
rving of the title ‘logic’ than the work done under this heading in the early modern period, given that it comes closer to the level of rigour and formal sophistication that came to be associated with logic from the late 19th century onwards. <span>In the modern period, a number of philosophers came to see the nature of logic in terms of the faculties of mind. To be sure, this is again a theme present in medieval scholastic thought (in the work of the 14th-century author Pierre d’Ailly, for example), but in the early modern period it became t

#### Annotation 1732404186380

#logic
It is also not happenstance that the downfall of the disputational culture roughly coincided with the introduction of new printing techniques in Europe by Johannes Gutenberg, around 1440.

The rise and fall and rise of logic | Aeon Essays
ich is thoroughly disputational, with Meditations on First Philosophy (1641) by Descartes, a book argued through long paragraphs driven by the first-person singular. The nature of intellectual enquiry shifted with the downfall of disputation. <span>It is also not happenstance that the downfall of the disputational culture roughly coincided with the introduction of new printing techniques in Europe by Johannes Gutenberg, around 1440. Before that, books were a rare commodity, and education was conducted almost exclusively by means of oral contact between masters and pupils in the form of expository lectures in which

#### Annotation 1732405759244

#logic
The fall of disputational culture wasn’t the only cause for the demise of scholastic logic, however. Scholastic logic was also viewed – rightly or wrongly – as being tied to broadly Aristotelian conceptions of language and metaphysics, which themselves fell out of favour in the dawn of the modern era with the rise of a new scientific paradigm.

The rise and fall and rise of logic | Aeon Essays
s Diafoirus resorts to disputational vocabulary to make a point about love: Distinguo, Mademoiselle; in all that does not concern the possession of the loved one, concedo, I grant it; but in what does regard that possession, nego, I deny it. <span>The fall of disputational culture wasn’t the only cause for the demise of scholastic logic, however. Scholastic logic was also viewed – rightly or wrongly – as being tied to broadly Aristotelian conceptions of language and metaphysics, which themselves fell out of favour in the dawn of the modern era with the rise of a new scientific paradigm. Despite all this, disputations continued to be practised in certain university contexts for some time – indeed, they live on in the ceremonial character of PhD defences. The point, thou

#### Annotation 1732407332108

#logic
The tight connection between traditional logic and debating practices dates back to the classical Hellenistic period.

The rise and fall and rise of logic | Aeon Essays
cond intentions’, roughly what we call second-order concepts, or concepts of concepts. But as late as in the 16th century, the Spanish theologian Domingo de Soto could write with confidence that ‘dialectic is the art or science of disputing’. <span>The tight connection between traditional logic and debating practices dates back to the classical Hellenistic period. Intellectual activity then was quintessentially a dialogical affair, as registered in Plato’s dialogues. In these dialogues, Socrates regularly engages in the practice of refutation (el

#### Flashcard 1732440624396

Tags
#has-images #value-proposition-canvas
Question