Data is not _____________________
a. useful
b. reliable
c. information
d. arbitrary
c
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In July of this year, Sam performs financial consulting services for William. On August 1, Sam sends William a bill for $1,200. As of September 30, Sam has not heard from William. After repeated efforts to collect the fee, Sam discovers in November that William has left the state and cannot be found. If Sam is an accrual basis taxpayer, for the current year, he can deduct:
A. $- 0 -. B. an $800 ordinary loss. C. a $1,200 ordinary loss. D. a $1,200 short-term capital loss. E. a $1,200 long-term capital loss.
Before finalizing an agreement between them, Ophelia and Wilma test each other's commitments to following through on it by asking each other certain questions. The following are effective questions to test these commitments except:
a. "What will keep you from agreeing to this?" b. "How will others you work with be affected by this?" c. "What are you doing to keep this agreement from happening?" d. "What am I doing that may prevent you from agreeing to this?"
The CFO of Twine Enterprises expects sales to increase from $8,000,000 in 2010 to $12,000,000 in
2011. Current assets in 2010 are equal to $5,000,000. Using the percent of sales method, projected current assets for 2011 are equal to A) $9,000,000. B) $5,500,000. C) $7,500,000. D) $7,083,333.
The major disadvantage of a trust is A) expense
B) lack of privacy. C) an often lengthy probate process. D) lack of control.