George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?
A) There is no appeal.
B) He can appeal the case, but only if the amount of tax involved is greater than $5,000.
C) He would appeal first to the U.S. Court of Appeals for the Federal Circuit.
D) He would appeal first to the U.S. Court of Federal Claims.
A) There is no appeal.
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The net assets of a company are equal to
a. current assets less current liabilities. b. total assets less current assets. c. long-term assets less accumulated depreciation. d. the stockholders' equity.
When the net price method is used to record credit sales, the sales discounts not taken account is reported as a(n)
A) addition to sales returns and allowances on the income statement. B) deduction from gross sales on the income statement. C) deduction from selling expenses on the income statement. D) addition to sales revenue on the income statement.
In a CVP graph, the area between the total cost line and the total revenue line represents total
a. contribution margin. b. variable costs. c. fixed costs. d. profit.
According to your textbook (Ch3) why would managers pursue the de-skilling of labour and simplifying of jobs?
a. It ensured the efficient extraction of surplus value b. It ensured labour could be controlled c. It created the need for managerial hierarchies d. All the above