If an automobile is placed in service in 2017, the limitation for cost recovery in 2019 will be based on the cost recovery limits for the year 2017
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: The cost recovery limits will be based on the limits in place when the automobile is placed in service.
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Kelly Corp reported the following information for 2016 and 2017. Salaries payable, December 31, 2016 $ 3,700 Salaries payable, December 31, 2017 1,800 Salaries expense—2017 57,000 How much cash was paid for salaries during 2017?
a. $55,100 b. $55,200 c. $57,000 d. $58,900
A company purchases 400 shares of its $50 par value common stock at $55 per share. It then reissues 60 shares at $58 per share. The entry upon reissue of the stock would be:
a. Cash 3,480 Treasury Stock-Common 3,300 Paid-in Capital, Treasury Stock 180 b. Cash 3,480 Treasury Stock-Common 3,480 c. Cash 3,480 Paid-in Capital, Treasury Stock 3,480 d. Cash 3,480 Treasury Stock-Common 3,000 Retained Earnings 480
Which type of budgeting utilizes employees at all levels of the company?
a. Group budgeting b. Selective budgeting c. Target budgeting d. Participative budgeting
Which statement about passive voice is correct?
A) Passive voice emphasizes the doer of the action. B) Passive voice is called the voice of business. C) Passive-voice verbs direct an action by the subject toward the object of a verb. D) ?Passive-voice verbs direct an action toward the subject.