Which of the following is not a type of trust used for estate planning?
A. Minor's Section 2503(c) trust.
B. Alimony trust.
C. Credit shelter trust.
D. Grantor retained annuity trust.
E. Qualified terminable interest property trust.
Answer: B
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Russell Co. received a $400 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Russell Co. make to record the receipt of the bill?
A.
| Cash | 400 | |
| Utilities Expense | 400 |
B.
| Accounts Payable | 400 | |
| Utilities Expense | 400 |
C.
| Utilities Expense | 400 | |
| Accounts Receivable | 400 |
D.
| Utilities Expense | 400 | |
| Accounts Payable | 400 |
E. No journal entry is required.
Interference on one's television set during a commercial is an example of noise.
Answer the following statement true (T) or false (F)
Regarding background checks, it is correct to say that:
a. no particular measure is required in all cases b. employer should always follow their own procedures c. inconsistencies and gaps in an applicant's information must be tracked down d. all of these are true
Jurisdiction M imposes an individual income tax based on the following schedule. RateIncome bracket5%$-0- to $50,000+ 8%$50,001 to $200,000+ 12%$200,001 and above Which type of rate structure does this tax use?
A. Regressive B. Multi-bracket C. Progressive D. Proportionate