The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is designed to prevent fraud and other abuses associated with private pension funds
Indicate whether the statement is true or false
FALSE
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When computing earnings per share on common stock, dividends on cumulative, nonconvertible preferred stock should be
a. deducted from net income only if the dividends were declared or paid in the current period. b. deducted from net income regardless of whether the dividends were not paid or declared in the period. c. deducted from net income only if net income is greater than the dividends. d. ignored.
A production process produces 3% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?
A. 0.9918 B. 0.0082 C. 0.0003 D. 0.9997
If in evaluating a proposal by use of the net present value method there is an excess of the present value of future cash inflows over the amount to be invested, the rate of return on the proposal exceeds the rate used in the analysis
Indicate whether the statement is true or false
JebSim Inc. was organized on June 1 and began business on August 10. JebSim elected a calendar year for tax purposes. The corporation incurred $25,160 of legal and other professional fees attributable to its formation. How much of these costs can JebSim deduct on its first tax return?
A. $5,560 B. $699 C. -0- D. $5,000