Predictive analytics is beginning to enable development of software that is directly used by a consumer. One key concern in employing these technologies is the loss of ________
Fill in the blanks with correct word
privacy
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The less-risky investment is always the more desirable choice
Indicate whether the statement is true or false
Tetra Company purchased 3500 units of inventory that cost $9.50 each on January 1, Year 1. An additional 4500 units of inventory were purchased on January 12, Year 1 at a cost of $5.85 each. Tetra Company sold 5500 units of inventory on January 20, Year 1. Assuming that Tetra Co. uses the perpetual inventory method and a FIFO cost flow method, how would the entry to recognize the cost of goods sold affect the financial statements?
A. Increase inventory and increase cost of goods sold by $44,950 B. Decrease cost of goods sold and increase inventory by $45,050 C. Increase cost of goods sold and decrease inventory by 44,950 D. Increase inventory and increase cost of goods sold by 45,050
Dogg Corporation, Katt Corporation, and Rabitt Corporation are equal partners in Critter Partnership. The partner's fiscal year ends follow: Dogg Corporation February 28 Katt Corporation May 31 Rabitt Corporation August 31 Which of the following statements is (are) correct? I. Critter Partnership may elect to use any of the three dates that the partners use. II. Critter Partnership must use
the tax year of the partner that creates the least amount of deferral. a. Only statement I is correct. b. Only statement II is correct. c. Both statements are correct. d. Neither statement is correct.
Mark with a “Yes” if the following statement is true and is in Publication 1, The Taxpayer Bill of Rights. Mark with a “No” if the following statement is false or is not addressed in Publication 1. a. A phone number to call to have tax questions answered. b. If a taxpayer is unable to provide or to verify information, then the IRS may contact a neighbor, bank, employer, or employees in order to obtain the information. c. Only the taxpayer has the right to represent themselves in front of the IRS. d. Publication 1 explains what to do if an IRS employee has not provided prompt, courteous, and professional assistance to the taxpayer.
What will be an ideal response?