A tax rate that increases as the tax base decreases is an example of what kind of tax rate structure?
A. Proportional.
B. Progressive.
C. Regressive.
D. Recessive.
Answer: C
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On November 1, 2016, Brownsville Co borrowed $80,000 from State Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. At December 31, 2016, the adjusting entry for this note includes a:
a. Debit to Interest Expense for $3,200. b. Credit to Notes Payable for $1,600. c. Credit to Cash for $4,800. d. Credit to Interest Payable for $1,600.
Mini-Case Question. Calculate the earnings per share of Zitko Inc
A) $2.5 per share B) $1.7 per share C) $3.8 per share D) $4.5 per share E) $6 per share
Which of the following statements is true?
A) Application of LIFO for financial reporting purposes must follow the tax laws applicable to LIFO. B) A company must use FIFO for both tax reporting and financial statement reporting. C) A company may use FIFO to valuate inventory and LIFO for financial statement reporting purposes. D) LIFO must be used for financial reporting if it is used for tax purposes.
A mirror that takes an image of a customer and shows them how makeup will look on their face or how clothes will look on their body is an example of the use of augmented reality.
Answer the following statement true (T) or false (F)