Which of the following corporate tax levies are imposed on an S corporation?
A. accumulated earnings tax
B. corporate income tax
C. corporate alternative minimum tax
D. None of these taxes are imposed on an S corporation.
Answer: D
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Project crashing is?
a. Used to extend the duration of a project b. Less expensive than completing the project at the regular project duration c. Used to shorten the duration of a project d. Not related to project duration
The test for infringement of a trade mark by the offending mark is:
A) The offending mark is identical to the existing trade mark. B) The offending mark is so similar as to cause confusion in the mind of the public as to the source of goods. C) The offending mark has caused actual confusion as to the owner or supplier of the goods. D) The Registrar of Trade-marks has received a complaint concerning the offending mark from the public. E) The offending mark is offensive to the moral rights of the trade mark owner.
When should supplies be recorded as an expense?
A. In the period cash is paid for the supplies, regardless of when the supplies were received. B. In the period the supplies are purchased, regardless of when cash is paid. C. In the period the supplies are used, regardless of when they were purchased. D. In the period the supplies are sold, regardless of when they were received.
Which of the following is not a misstatement related to the occurrence assertion for inventory?
A. Consigned goods are included as part of inventory. B. Unauthorized production activity. C. Fictitious inventory. D. Recorded inventory is not on hand because of theft.