A high-definition TV costs a company $3,300 to manufacture. If it sells for $6,732, what is the percent markup based on cost? (Round to the nearest whole percent)
A) 51%
B) 104%
C) 49%
D) 108%
B
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Double-declining-balance depreciation is most commonly used by businesses for financial reporting purposes
a. True b. False Indicate whether the statement is true or false
At the end of its first year of operations on December 31, 2016, the Brandon Company reported taxable income of $100,000 and had a pretax financial loss of $60,000. Differences between taxable income and pretax financial income included interest revenue received from municipal obligations of $20,000 and warranty expense accruals of $180,000. Warranty expenses of $90,000 are expected to be paid in
2017 and $110,000 in 2018. The enacted income tax rates for 2016, 2017, and 2018 are 30%, 35%, and 40%, respectively. The journal entry to record income tax expense on December 31, 2016, would be A) Deferred Tax Asset 75,500Income Taxes Payable 30,000Income Tax Benefits fromOperating Loss Carryforward 45,500 B) Deferred Tax Asset 30,000Income Taxes Payable 30,000 C) Income Tax Expense 30,000Income Taxes Payable 30,000 D) Deferred Tax Asset 105,500Income Taxes Payable 30,000Income Tax Benefit fromOperating Loss Carryforward 75,500
In a criminal case the burden of proof falls upon the prosecutor
a. True b. False
Under a Kantian approach to ethics, a person should not lie to colleagues unless that person supports the right of all colleagues to lie to one another
Indicate whether the statement is true or false