A firm is selling an existing asset for $5,000. The asset, when purchased, cost $10,000, was being depreciated under MACRS using a five-year recovery period and has been depreciated for four full years
If the assumed tax rate is 40 percent on ordinary income and capital gains, the tax effect of this transaction is ________.
A) $0 tax liability
B) $1,320 tax liability
C) $1,160 tax liability
D) $2,000 tax benefit
B
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Which of the following is true concerning instant messaging (IM)?
a. Most companies use IM in some way. b. Special hardware is needed to IM. c. Spelling and grammar are as important in IM as in email. d. All of the above are true.
A doctor who stops to assist at a scene of an emergency typically will have protection from negligence under Good Samaritan laws
Indicate whether the statement is true or false
The prohibition against banks underwriting corporate securities and engaging in brokerage, real estate, and insurance activities was repealed by the
A) Gramm-Leach-Bliley Financial Services Modernization Act. B) Competitive Equality in Banking Act. C) Depositary Institution Deregulation and Monetary Control Act. D) Glass-Steagall Act.
The presence of an SSL connection is usually indicated by a URL that uses ____ rather than http://.
A. https:// B. htps:// C. shttp:// D. httpsec://