Form 4868, a six-month extension of time to file, allows a taxpayer to
A. extend the filing date only at the discretion of the IRS.
B. extend the filing date of the return as well as payment of the tax due.
C. extend the filing date of the return but the estimated amount of tax due must still be paid by the original due date of the return.
D. avoid interest on underpayment of taxes due.
Answer: C
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Which of the following is used by companies to separate cash duties and establish stronger control over cash receipts?
A) an encryption system B) an imprest system C) a lock-box system D) a firewall system
You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.12 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio?
a. 1.37 b. 1.54 c. 1.88 d. 1.98 e. 2.97
Period cost is also called
A) variable cost. B) direct cost. C) value-adding cost. D) noninventoriable cost.
Answer the following statements true (T) or false (F)
One of the purposes of positive research is to satisfy information demand by managers, auditors, creditors, and standard setters.