An interest rate or a required rate of return represents the cost of money
Indicate whether the statement is true or false
TRUE
You might also like to view...
During a year-end evaluation of the financial records of the Matthew Company for the year ended December 31, 2016, the following was discovered: · Inventory on January 1, 2016, was understated by $6,000. · Inventory on December 31, 2016, was understated by $18,000. · Rent of $20,000 collected in advance on December 29, 2016, was included in income for 2016. · A probable, reasonably estimated
contingent liability of $30,000 was not recorded as of December 31, 2016. Net income for 2016 (before any of the above items) was $250,000. What is the corrected amount of net income for 2016? (Ignore income taxes.) A) $300,000 B) $208,000 C) $212,000 D) $218,000
Erika (age 62) was hospitalized with injuries from an auto accident this year. She incurred the following expenses from the accident: Hospital charges$3,280Prescription medicine510Doctors' fees1,240In addition, Erika's auto was completely destroyed in the accident. She bought the car several years ago for $18,000 and it was worth $4,700 at the time of the accident. What are Erika's itemized deductions this year if she was uninsured and her AGI is $40,000?
What will be an ideal response?
Principles of internal control include all of the following except:
A. Apply technological controls. B. Maintaining security by having one person track and record assets. C. Separate recordkeeping from custody of assets. D. Perform regular and independent reviews. E. Divide responsibilities for related transactions.
In a ________ communication network, all communication passes through a clearly identifiable leader to the others in a team and upward from team members to the leader.
A. wheel B. all-channel C. chain D. circular