A retailer that carries a broad variety and deep assortment, offers customer services, and is organized into distinct sections for displaying merchandise is called a(n)

A. convenience store.
B. department store.
C. off-price retailer.
D. specialty retailer.
E. discount retailer.


Answer: B

Business

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The federal Clean Air Act sets specific pollution standards. California adopts even stricter pollution standards instate. This standard is likely to be found:

a. unconstitutional; states may not pass regulatory standards different than those of Congress b. unconstitutional; states may not pass stronger regulatory standards than those of Congress c. unconstitutional; the standard will reduce the ability of California to compete in interstate commerce d. constitutional; the necessary and proper clause lets states pass regulations needed for local conditions e. none of the other choices

Business

In April of 2017, Brandon acquired equipment which is five-year listed property (not an automobile) for $30,000 and used it 70% for business. Brandon did not claim Sec. 179 or bonus depreciation. In 2018, his business use of the property dropped to 40%. Which of the following statements is true?

A) The change does not affect Brandon's previous depreciation. B) Brandon must recapture $2,100 as ordinary income. C) Brandon must recapture $4,200 as ordinary income. D) Brandon must amend the previous tax return and recompute depreciation.

Business

At the beginning of the year, a company had $120,000 worth of liabilities. During the year, assets increased by $160,000 and at year-end they equaled $360,000. Liabilities decreased $20,000 during the year. Calculate the beginning and ending values of equity.

What will be an ideal response?

Business

The commission charged by a fund when selling the mutual funds to investors is referred to as ________

A) bill B) index C) load D) yield E) coupon

Business