An expenditure over which you have no control, are obligated to make, and is generally at a constant level each month is called a ________ expenditure
A) fixed
B) flexible
C) stationary
D) discretionary
E) none of the above
Answer: A
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The building used in Terry's business was condemned by the city of St. Louis. Terry received a condemnation award of $125,000. He paid $1,200 in lawyer's fees and $800 for an appraisal of the property. Terry's adjusted basis in the building was $60,000. Terry reinvests in similar property costing $110,000, and Terry makes the proper election regarding the property. What is the amount of Terry's recognized gain on the condemnation?
A. $50,000 B. $13,000 C. $15,000 D. $63,000
When bonds are retired at maturity ________.
A) the bondholders are paid the face value plus the unamortized premium or less the unamortized discount B) the carrying value equals the face value plus the unamortized premium or less the unamortized discount C) the carrying value always equals the face value D) the entry to retire the bonds may include a gain or loss on retirement of bonds
What was the first major anti-discrimination legislation signed by President Obama, and why was it put into law?
What will be an ideal response?
The Transport Rule has been upheld by the U.S. Supreme Court
Indicate whether the statement is true or false