Some states impose inheritance taxes, but the Federal tax system does not.
Answer the following statement true (T) or false (F)
True
Rationale: Only a few states impose an inheritance tax; the Federal tax on transfers by death is an estate tax.
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The Public Company Accounting Oversight Board was established by the AICPA in response to Securities laws
a. True b. False Indicate whether the statement is true or false
An employer directs his vice-president of marketing to fix prices with their company's competitors. The employee does so. Under these facts:
A) only the employee is liable. B) both the employee and the employer are liable. C) only the employer is liable. D) neither the employee nor the employer is liable.
The following materials standards have been established for a particular product:?Standard quantity per unit of output9.4pounds?Standard price$16.90per poundThe following data pertain to operations concerning the product for the last month:?Actual materials purchased7,300pounds?Actual cost of materials purchased$116,435??Actual materials used in production7,100pounds?Actual output740unitsThe direct materials purchases variance is computed when the materials are purchased.Required:a. What is the materials price variance for the month?b. What is the materials quantity variance for the month?
What will be an ideal response?
According to FASAB, entity assets are defined as those assets arising from transactions between federal entities.
Answer the following statement true (T) or false (F)