In traditional media, such as TV, radio, newspapers and magazines, and even podcasts, personal interaction is confined to consumption
Indicate whether the statement is true or false
TRUE
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Why did Congress establish favorable treatment for 1231 assets?
A. to help business owners replace assets which had declined in value B. to allow a larger deduction for losses C. to encourage the mobility of capital D. all of the above
Lucia Company reported cost of goods sold for Year 1 and Year 2 as follows: Year 1 Year 2 Beginning inventory$120,000 $130,000 Cost of goods purchased 250,000 275,000 Cost of goods available for sale 370,000 405,000 Ending inventory 130,000 135,000 Cost of goods sold$240,000 $270,000 Lucia Company made two errors: 1) ending inventory at the end of Year 1 was understated by $15,000 and 2) ending inventory at the end of Year 2 was overstated by $6,000. Given this information, the correct cost of goods sold figure for Year 2 would be:
A. $276,000 B. $264,000 C. $291,000 D. $285,000 E. $249,000
What advice would you give to Monty concerning his use of credit cards?
A) Learn to live within your means. B) Learn the difference between a want and a need—gambling in Vegas is not a need. C) Seek out a non-profit credit counseling company. D) All of the above
Which of the following was true after 2005?
A. The options never had any affect on a company's financial statements B. The value of options which were at-the-money when issued had to be expensed on the income statement C. The value of options which were at-the-money when issued had to be reported in the notes to the financial statements D. Options which were at-the-money when issued did not affect a company's financial statements