George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?
A. He can appeal the case, but only if the amount of tax involved is greater than $5,000.
B. He would appeal first to the U.S. Court of Appeals for the Federal Circuit.
C. There is no appeal.
D. He would appeal first to the U.S. Court of Federal Claims.
Answer: C
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Palmer Company is at the end of its annual accounting period. The accountant has journalized and posted all external transactions and all adjusting entries, has prepared an adjusted trial balance, and completed the financial statements. The next step in the accounting cycle is:
A. Prepare a post-closing trial balance. B. Prepare a work sheet. C. Close temporary accounts. D. Prepare an unadjusted trial balance. E. Prepare reversing entries.
MIS can add value to both primary activities and support activities in the value chain. Which of the following is not an example of a company adding value by the use of MIS in a primary activity?
A. Royal Crest Dairy using their custom order and delivery system through an easily accessible Web portal for the customer to track delivery status. B. A system for the sales and marketing departments to track specific sales targets and follow up processes. C. An easy electronic survey, similar to the survey monkey, to be sent to the customer right after a service was completed. D. Scottrade Corp. creating an online system for employees to track paychecks, benefits, wellness rewards program, and other employee benefit items.
Office Supplies was $1,800 at the end of January and $2,280 at the end of February. During February, Office Supplies Expense equaled $560. How much cash was paid for office supplies during February?
A) $440 B) $2,840 C) $3,440 D) $1,040
Establishing _____________________ pertaining to apprenticeship standards, union member tasks, and which job duties union members would be required to do was one of the most important activities of the AFL.
Fill in the blank(s) with the appropriate word(s).