If the market rate of interest is greater than the contractual rate of interest, bonds will sell
a. at a premium
b. at face value
c. at a discount
d. only after the stated rate of interest is increased
c
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Information that has a bearing on future events is relevant in the decision-making process
Indicate whether the statement is true or false
Providing for coherence means
a. using writing techniques that provide conciseness. b. using various techniques to link ideas together. c. varying the length of sentences and paragraphs. d. selecting words that indicate the communicator's wide vocabulary.
The shareholders of an S corporation must pay self-employment tax on their share of the corporation's ordinary income.
Answer the following statement true (T) or false (F)
Identify which of the following statements is true.
A) When a corporation donates appreciated capital gain property to a charity, the amount of the contribution deduction generally equals the property's FMV. B) When a corporation donates appreciated capital gain property to a private nonoperating foundation, the corporation's contribution is limited to the property's FMV minus the ordinary gain that would have resulted from the property's sale. C) When a corporation contributes appreciated property to a charity, the charitable contribution deduction is the property's FMV or adjusted basis, depending on the election made by the taxpayer. D) All of the above are false.