A subject directory is a catalog of sites collected and organized by people rather than automated crawlers.
Answer the following statement true (T) or false (F)
True
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What is the correct presentation of the income statement?
A) Revenues - expenses + gains - losses = Net Income B) Revenues - expenses = Net income - losses + gains C) Revenues - losses - expenses + gains = Net Income D) Revenues + gains - losses - expenses = Net Income
Most firms operate in monopolistic competition, where products and whole marketing mixes are not exactly the same.
Answer the following statement true (T) or false (F)
Missoula Corporation disposed of one of its segments in the second quarter and incurred a gain from disposal of discontinued segment of $600,000, net of taxes. What is the effect of this gain from disposal of discontinued segment?
A. Increase net income from operations for the year by $600,000. B. Increase each quarter's net income by $150,000. C. Increase second quarter net income by $600,000. D. Increase each of the last three quarters' net income by $200,000.
All of the following fringe benefits paid for by the employer may be excluded from an employee's gross income except
A) discounts on services of 25 percent. B) subscriptions to professional publications. C) recreational facilities on employer's premises. D) company-paid parking costing $225 per month to non-employees.