The cost of holiday turkeys distributed to employees is included in the employees' income.
Answer the following statement true (T) or false (F)
False
Small tokens, like holiday turkeys, fall under the de minimis rules and are non-taxable due to the impracticality of keeping track of each employee's benefit.
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The accounts in a chart of accounts are normally listed in alphabetical order
Indicate whether the statement is true or false
A machine with a cost of $200,000 has an estimated residual value of $20,000 and an estimated life of 10 years or 18,000 hours. Using the units-of-production method, what is the amount of depreciation for the second full year, during which the machine was used 4,000 hours?
a. $50,000 b. $45,000 c. $20,000 d. $40,000
A channel of distribution consists of interdependent entities that ________.
A. experience inefficiencies in business processes B. develop new products C. transfer possession of a product from producer to consumer D. include members of the same market segment E. fix the price of a product to create monopoly
Refer to the scenario above. How many workers must be added to increase the output rate to one unit per minute?
A) 1 B) 2 C) 3 D) 4