Which of the following statements regarding the IRS and/or Tax Court approaches to allocating home-related expenses between rental use and personal use is correct?
A. The Tax Court approach allocates more property tax and interest expense to rental use than does the IRS approach.
B. The IRS approach allocates interest expense and property taxes to rental use based on the ratio of the number of days of rental use to the total days of the year.
C. The Tax Court and the IRS approaches allocate the same amount of expenses, other than interest expense and property taxes, to rental use.
D. None of the choices are correct.
Answer: C
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Why are contracts prohibiting competition with a buyer of a business or an employer generally assignable with the sale of the business?
A. To protect the goodwill of the business B. To protect wage earners from unwisely impoverishing themselves C. To protect the employees from losing their jobs D. To protect the interest of the public
The lower the interest rate, the lower the future value factor
Indicate whether the statement is true or false
Discount brokers offer a wide range of additional services to their clients free of cost.
Answer the following statement true (T) or false (F)
On an organizational level, the key issue in the Parmalat case is:
A. The influence of moral intensity on ethical decision making B. The influence of ethical leadership on accounting and auditing C. The role of ethical leadership and corporate governance in the accounting fraud D. The role of professional skepticism and moral intensity in corporate governance and accounting fraud