The names of the four major classifications of adjusting entries are ____________________, ____________________, ____________________, and ____________________
Fill in the blank(s) with correct word
accrued revenue, accrued expense, deferred revenue, deferred expense
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Andrea transferred $500,000 of stock to a trust, with income to be paid to her niece for 20 years (value $125,000) and the remainder to be paid to her nephew (value $375,000). Andrea named a bank as independent trustee but retained the power to determine how much income, if any, will be paid in any particular year. What is the amount of the taxable gift, if any? Explain your answer.
What will be an ideal response?
It is Monday night, and Francesca is experiencing more stress symptoms than usual
She notices that she has lost two more pounds, her headache is intense, and a rash has broken out on her face. Francesca thinks, "I've got to do something to get out from under all this stress." What do you recommend Francesca do to reduce the stress she is experiencing? A) Get a group of friends together to form a support group that will meet every Sunday afternoon between three and five. B) Create a few personal accounts on social networking sites, so she can visit them as a pleasant diversion during and after work. C) Jog every day for ten minutes each night after all her work and family responsibilities have been completed. D) Find a better balance between work and family responsibilities.
Generally, misdemeanors are more serious than felonies
Indicate whether the statement is true or false
The government uses tax dollars to
A. invest in foreign bonds. B. invest in foreign corporations. C. purchase resources and products needed to provide services. D. purchase other nations. E. increase consumer income.