Briefly explain 2 (two) differences between depreciation on a tax return and on a financial statement.
What will be an ideal response?
On a tax return, depreciation is calculated following the rules of the IRS. For financial statements, depreciation is calculated most often by the straight-line method and following the rules of generally accepted accounting principles.
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One year ago, you bought a bond for $10,000. You received interest of $400 at the end of the year, as well as your $10,000 principal. If the inflation rate over the last year was 5 percent, calculate your real return. Show your work.
What will be an ideal response?
Which type of innovation focuses on the enhancement and reuse of existing products and processes?
A. exploratory B. exploitative C. process D. product
As the internal transfer price is increased,
a. profits in the buying division increase b. profits in the selling division and the overall corporation increase. c. profits in the selling division increase d. overall corporate profits increase.
All substantive rules are subject to judicial review
Indicate whether the statement is true or false