What is required for an organization to qualify for tax-exempt status?
What will be an ideal response?
| 1. | Have an Employer's Identification Number (EIN) |
| 2. | Be organized as a corporation, trust or association |
| 3. | Complete IRS form 1023, Application for Recognition of Exemption |
| 4. | Receive notice from the IRS that the organization has been determined to be |
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________ is a computer program developed for conducting conjoint analysis
A) MONANOVA B) PREFMAP C) APM D) Both B and C
The predetermined overhead rate for Foster, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were:Direct materials…………………………….. $240,000Direct labor…………………………………..410,000Indirect materials…………………………… 55,000Indirect labor……………………………….. 125,000Sales commissions…………………………. 55,000Factory depreciation………………………… 170,000Property taxes, factory……………………... 15,000Factory utilities…………………………….. 35,000Advertising………………………………..... 62,500Factory equipment rental…………………… 110,000(a) Calculate the predetermined
overhead rate and calculate the overhead applied during the year.(b) Prepare the journal entry to eliminate the over- or underapplied overhead, assuming that it is not material in amount. What will be an ideal response?
One of the advantages of utilitarianism is that it is easy to apply in most real-life situations
Indicate whether the statement is true or false
The payment of Fritz's debt to Gianini is guaranteed by Fritz's personal property. Gianini is
a. a debtor. b. a secured party. c. a secured transaction. d. a security interest.