If the taxpayer does not maintain adequate records of car expenses (i.e., gas, tires, car insurance, etc.), the standard mileage rate cannot be used
a. True
b. False
Indicate whether the statement is true or false
False
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Significant changes in stockholders' equity are reported in
a. income statement b. retained earnings statement c. statement of stockholders' equity d. statement of cash flows
A ________ buys goods from manufacturers and sells them to retailers
a. retail business b. wholesale business c. manufacturing business d. merchandising business
According to the Uniform Commercial Code (UCC), if goods are specially manufactured for the buyer and not suitable for sale to others in the normal course of the seller's business, and the seller has made a substantial beginning in manufacturing them or has entered into a binding agreement to acquire them for the buyer before learning that the buyer is denying the existence of a contract, the contract between the parties must be in writing in order to be enforceable.
Answer the following statement true (T) or false (F)
Those who discover that they have been the victim of misrepresentation, fraud, duress, undue influence, or mistake must act promptly to rescind or disaffirm their contracts.
Answer the following statement true (T) or false (F)