When compiling objects that call packaged program units, only the package specification or program unit header is used for verification.
Answer the following statement true (T) or false (F)
True
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This year Pranav had the gains and losses noted below on property, plant and equipment used in his business. Each asset had been held longer than one year.Gain due to insurance reimbursement for fire$17,000Loss due to condemnation(12,000)Gain on sale of Sec. 1231 property21,000A review of Pranav's reporting of Sec. 1231 transactions for the prior five years indicates a net Sec. 1231 loss of $14,000 three years ago and a net Sec. 1231 gain of $8,000 last year (before the five-year lookback). Pranav will recognize
A.
| Ordinary gain (loss) | LTCG(L) |
| $(6,000) | $26,000 |
B.
| Ordinary gain (loss) | LTCG(L) |
| $6,000 | $20,000 |
C.
| Ordinary gain (loss) | LTCG(L) |
| $(18,000) | $38,000 |
D.
| Ordinary gain (loss) | LTCG(L) |
| $0 | $18,000 |
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours30,000Total fixed manufacturing overhead cost$252,000Variable manufacturing overhead per machine-hour$2.10Recently, Job T687 was completed with the following characteristics:Number of units in the job10Total machine-hours30Direct materials$675Direct labor cost$1,050The total job cost for Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $1,725 B. $990 C. $1,365 D. $2,040
A legal right that arises out of a breach of contract is ________
A) assignable B) not assignable C) subject to approval clause D) considered a future right
Marty was 59 and had worked for Allied Industries Inc for 15 years as a sales manager and then was fired because the company was in financial difficulty. The employment contract Marty had originally signed limited his termination notice to 6 weeks
If Marty sued Allied Industries for wrongful dismissal he A) can only receive the 6 weeks notice stated in the employment contract B) can only receive a maximum of 8 weeks notice C) he may receive closer to 15 months notice D) will receive punitive damages E) will receive statutory notice and punitive damages