Doug, a self-employed consultant, has been a firm believer in maintaining a paperless office. Unfortunately, he recently lost all of his business records in a ransomware attack, and his backup system was also compromised. Which of the following cases should Doug investigate to better understand substantiation requirements for business expenses?
A. the Corn Products doctrine
B. the Cohan rule
C. the Arkansas Best doctrine
D. the tax benefit rule
Answer: B
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Answer the following statements true (T) or false (F)
1. The public sector is operated by government departments, agencies and organizations usually not to operate businesses or make profits. 2. The public sector is run by individuals and corporations whose intention is to make profits. 3. Strategic management has traditionally been focused on the economic responsibilities of the firm. 4. Strategic management is the process through which a corporation establishes a comprehensive, overall strategy. 5. With an amoral sustainability strategy, the corporation ignores sustainability but cannot be viewed as deliberately doing so. 6. A cooperative is one type of social enterprise.
Outsourcing (offshoring)
a. harms the economy’s domestic sectors. b. applies only to manufacturing industries instead of service industries. c. is the transfer of work previously done by domestic workers to workers located in foreign countries. d. refers to the transfer of money capital from domestic banks to foreign banks.
The Customer Meeting (Scenario)Kelly, a production supervisor, is responsible for 10 employees who assemble components into a finished product that is sold to distributors. Kelly reports to Ben, a production manager, who in turn reports to Dan, a general manager, who reports to McKenna, a vice president of operations. Recently, McKenna asked Dan to have a meeting with Kelly and Ben regarding some customer concerns in the production area. The focus of the meeting was to judge the validity of the customer concerns, and to develop a specific plan to address these concerns.Ben and Dan are ________.
A. top managers B. middle managers C. supervisors D. first-line managers
The modified DuPont formula relates the firm's return on total assets (ROA) to its ________
A) return on equity (ROE) B) operating leverage multiplier C) net profit margin D) total asset turnover