Keisha is a state court judge. A statute of limitations limits
a. the amount of a judgment that Keisha can issue in any one case.
b. the length of a trial in Keisha's court.
c. the number of cases that Keisha is permitted to hear.
d. the time during which a certain suit can be brought in Keisha's court.
d
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Which of the following statements regarding fringe benefits is false?
A. Nontaxable fringe benefits must be provided to employees on a nondiscriminatory basis. B. The general rule is that an employee fringe benefit is taxable unless the benefit is specifically excluded from the employee's gross income. C. Employers are not allowed to deduct the cost of nontaxable employee fringe benefits. D. None of the above is false.
Goodwill
a. is created when a business is purchased at a price below fair value of its net assets. b. is amortized like patents and trademarks. c. refers to an intangible asset of a business that is created from such favorable factors as location, product quality, reputation, and managerial skill. d. is reported in the fixed assets section of the balance sheet.
Under a closed shop agreement, an employer agrees to hire only employees who are already members of a union
Indicate whether the statement is true or false
[The following information applies to the questions displayed below.]Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.)1) Acquired $950 cash from the issue of common stock. 2) Borrowed $420 from a bank. 3) Earned $650 of revenues. 4) Paid expenses of $250. 5) Paid a $50 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)1) Issued an additional $325 of common stock. 2) Repaid $220 of its debt to the bank. 3) Earned revenues of $750. 4) Incurred expenses of $360. 5) Paid dividends of $100. What is Packard Company's net cash flow from financing activities for Year 2?
A. $220 outflow B. $5 inflow C. $320 outflow D. $225 inflow