The country which has the highest rates of value added tax (VAT) in the European Union is:
A) Germany.
B) Italy.
C) France.
D) Denmark.
E) Switzerland.
D
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Price reductions granted to customers because of defects with the merchandise are called sales returns
Indicate whether the statement is true or false
When Congress passed a criminal statute called the "Gun-Free School Zones Act," the Supreme Court ruled that
a. the law was valid as a proper exercise of the power to regulate interstate commerce. b. the law was void for vagueness; thus, it was not valid. c. the law was not valid since Congress exceeded its power under the Commerce Clause. d. although the law was not a proper exercise of the power to regulate interstate commerce, Congress had the power to create such legislation on other grounds. Therefore, the statute was valid.
Which of the following would not be a period cost?
A. Sales salaries. B. Legal costs. C. Tamper-proof packaging. D. Sales commissions. E. Accounting costs.
Mester Corporation has provided the following information concerning a capital budgeting project: After-tax discount rate 15?%Tax rate 30?%Expected life of the project 4? Investment required in equipment$100,000? Salvage value of equipment$0? Annual sales$205,000? Annual cash operating expenses$140,000? One-time renovation expense in year 3$25,000? Use Exhibit 13B-1 above to determine the appropriate discount factor(s). The company uses straight-line depreciation on all equipment. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital
budgeting.The net present value of the project is closest to: (Round intermediate calculations and final answer to the nearest dollar amount.) A. $39,853 B. $139,853 C. $41,956 D. $94,500