Reversing entries for a manufacturing company affect all of the same accounts as reversing entries for a merchandising company
Indicate whether the statement is true or false
F
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Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75,000 of salary, $3,000 long-term capital gain, and $1,500 interest income. Bob's expenses for the year consist of $800 in investment advice fees and $250 in tax return preparation fees. What is Bob's investment expense deduction?
A. $1,050. B. $250. C. $800. D. $0. E. None of the choices are correct.
The disadvantages of process-oriented layout come from:
A) the use of special purpose equipment. B) machine maintenance, which tends to seriously degrade the capacity of the entire system. C) the use of specialized material handling equipment. D) the need for stable demand. E) the flexibility of general-purpose equipment.
Under the UCC, an agreement modifying a contract needs no consid¬eration to be binding
Indicate whether the statement is true or false
A producer is not likely to receive ____ from an industrial distributor.
A. selling activities in local markets B. market information about consumers C. aggressive promotion of its brand D. reduced capital requirements E. a reduced financial burden from customers