The establishment of a petty cash fund has no effect on the company's total cash balance
a. True
b. False
Indicate whether the statement is true or false
True
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For most companies, the first step in conducting online marketing is to ________
A) place an ad online B) send e-mails C) create a Web site D) create a social networking site E) place search-related ads
The heading of an adjusted trial balance contains the heading "For the Month Ended December 31, 2008."
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
Under comprehensive allocation, only those deferred credits that can reasonably be expected to reverse in the foreseeable future on an aggregate basis are recorded on the books.
Ilene owns an unincorporated manufacturing business. In 2018, she purchases and places in service $2,536,000 of qualifying five-year equipment for use in her business. Her taxable income from the business before any depreciation deduction is $900,000. Ilene will elect out of bonus depreciation but plans to take the maximum allowable deduction under Sec. 179. Which of the following statements is true regarding the Sec. 179 election?
A. Ilene can deduct $900,000 as a Sec. 179 deduction in 2018, with no carryover to next year. B. IIene can deduct $900,000 as a Sec. 179 deduction in 2018; $64,000 may be carried over to next year. C. Ilene can deduct $1,000,000 as a Sec. 179 deduction in 2018, with no carryover to next year. D. Ilene can deduct $964,000 as a Sec. 179 deduction in 2018, with no carryover to next year.