The CAN-SPAM Act:
A) is part of Sarbanes-Oxley
B) allows companies to bring suit against spammers for their unauthorized use of their servers.
C) has been declared unconstitutional.
D) None of the above
B
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The result of using the effective interest method of amortization of discount on bonds is that the
a. interest expense for each amortization period is constant. b. effective interest rate for each amortization period is constant. c. amount of interest expense decreases each period. d. cash interest payment is greater than the interest expense.
When a firm has accumulated losses, rather than profits, the Retained Earnings account is typically called:
a. Negative cash balance b. Ordinary Loss c. Accumulated Excess d. Accumulated Deficit e. Insolvency
______ is known as a statistical measure and as a business process improvement initiative that uses statistical methods.
a. TQM b. Reengineering c. Six Sigma d. Transorganization development
Orange, Inc. is a calendar year partnership with the following current year information: Operating loss$(120,000)Liabilities: Note payable, City Bank 20,000 Note payable, Jack Crow 20,000 On January 1, John James bought 50% general interest in Orange, Inc. for $30,000. How much of the operating loss may John deduct on his Form 1040? Assume the excess business loss limitation does not apply.
A. $40,000 B. $30,000 C. $60,000 D. $50,000