An advantage of the corporate form of business is
A) separation of ownership and control.
B) tax treatment.
C) lack of mutual agency.
D) government regulation.
C
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The issuance of common stock in exchange for a building would appear both as a cash inflow in the financing activities section of the cash flow statement and also as a cash outflow in the investing activities section
a. True b. False Indicate whether the statement is true or false
When is the fraud report prepared?
a. as an ongoing part of the investigation b. in the final stage of the investigation c. once the investigation is completed d. as soon as the suspect orally confesses
Mae Li is beneficiary of a $70,000 insurance policy on her father's life. Upon his death, she elects to receive the proceeds in installments from the insurance company that carries the policy. She will receive $16,000 per year for five years. What are the tax consequences each year?
A) All $16,000 each year is taxable. B) $10,000 interest is taxable in the first year. C) There is no taxable income. D) $2,000 of the $16,000 payment is taxable each year.
An industry practice that permits bill-padding is ethical
Indicate whether the statement is true or false