A cash-basis taxpayer pays a bill with a credit card. The underlying expenditure is not deductible until the credit card bill is paid.
Answer the following statement true (T) or false (F)
False
Payment by credit card is considered equivalent to borrowing money to pay the bill so the taxpayer can deduct the expenditure at the time the charge is made.
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One of the problems with the percentage of sales budgeting method is:
A) deciding on the percentage level B) finding a benchmark figure to use C) the budget tends to change in the opposite direction of what may be needed D) the competition knows how much the company will spend on advertising
Stereotyping and racial ______ have the potential to ______ interracial and intercultural communication.
A. bias; increase B. profiling; plague/harm C. profiling; supplement D. bias; enhance
A manufacturer of premium wire strippers has supplied the following data: Units produced and sold 580,000Sales revenue$4,176,000Variable manufacturing expense$2,871,000Fixed manufacturing expense$778,000Variable selling and administrative expense$348,000Fixed selling and administrative expense$104,000Net operating income$75,000The company's degree of operating leverage is closest to:
A. 7.73 B. 55.68 C. 12.76 D. 3.65
PDF files are the most common format for distributing reports electronically because _____
A) readers have limited access to the report without downloading it B) the reports are more interactive C) reports can be updated frequently D) the reports can include links to multimedia content E) companies can track people interested in the information