Which of the following refers to a trade pact among Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, which began in the early 1960s but collapsed in 1969 due to war?
A. Central American Common Market
B. Free Trade Area of the Americas
C. Caribbean Single Market and Economy
D. Mercosur
E. CARICOM
A
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The purpose of a retained earnings appropriation is to inform readers of the balance sheet that
a. the appropriated amount is unavailable for dividends. b. such an appropriation is required to pay corporate income taxes. c. an appropriation is needed because the corporation expects a net loss for the year. d. an appropriation is needed because the corporation is involved in a lawsuit.
A disadvantage of lease financing is the potential to deduct rental payments from taxable income.
Answer the following statement true (T) or false (F)
Proper treatment of inflation in NPV calculations involves
A. discounting nominal cash flows by the nominal discount rate. B. discounting real cash flows by the real discount rate. C. discounting nominal cash flows by the nominal discount rate and discounting real cash flows by the real discount rate. D. discounting nominal cash flows by the real discount rate.
Intangible assets with definite useful lives should be amortized:
A) over the time periods provided under IAS 36 Impairment of Assets which prescribes amortization periods for different classes of assets. B) over their useful lives. C) under the applicable capital cost allowance rates provided by the Canada Revenue Agency. D) over two years.