The high level of political risk currently evident in Russia can be attributed in part to excessively low taxes on business operations
Indicate whether the statement is true or false
FALSE
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If a company has $152,000 of revenues, declares and pays $55,000 in dividends, and has net income of $89,000, how much were expenses for the year?
a. $ 8,000 b. $ 63,000 c. $144,000 d. Unable to determine the amount due to incomplete information.
Effective internal control over the payroll function would include which of the following?
A. Payroll Department employees should be supervised by the management of the Human Resource Department. B. Total time spent on jobs should be compared with total time indicated on time sheets. C. Total time recorded on time sheets should be reconciled to job reports by employees responsible for those specific jobs. D. Payroll Department employees should be responsible for maintaining employee personnel records.
Because it is consistent with the wherewithal to pay concept, the tax law requires a seller to recognize a gain in the year the installment sale occurs.
Answer the following statement true (T) or false (F)
The following data are taken from the comparative balance sheets of Grayling Company. Compute and interpret its accounts receivable turnover for Year 2. Competitors average a turnover of 7.5. How is the company doing in relation to its competitors?
What will be an ideal response?