When a husband and wife file a joint return and both have self-employment income, the self-employment tax must be computed separately.
Answer the following statement true (T) or false (F)
True
Self-employment tax, just like FICA, is determined on an individual, not joint, basis.
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Gamma Corporation has sales of $120,000, a contribution margin of $48,000, and a net operating income of $12,000. The company's degree of operating leverage is:
A. 4.0 B. 10.0 C. 4.8 D. 2.5
Proctor and Gamble announced that it would sell off or close down up to 100 of its brands. This is an example of which turnaround strategy used by successful companies?
A. global expansion B. piecemeal productivity improvements C. asset and cost surgery D. selective product and market pruning
Tiger Training Inc. has decided on a 4-for-1 stock split. If the firm currently has 1,600,000 shares outstanding, how many shares will be outstanding after the stock split?
A) 400,000 shares B) 1,600,000 shares C) 3,200,000 shares D) 6,400,000 shares
The Food, Drug and Cosmetics Act was passed in 1938 after:
a. a large outbreak of food poisoning b. a large numbers of women suffered adverse reactions to a particular face cream c. many people were poisoned by a non-prescription medicine d. several people in Ohio died after eating an infected batch of ground beef e. the drug companies requested an increase of regulation