To be effective against third parties, a financing statement
a. must always be filed in a public office.
b. need never be filed.
c. must be filed if an automobile is involved.
d. need not be filed for a credit sale of business equipment.
C
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In 1975, Riveria Company had acquired copyrights for $750,000 on several literary works from some obscure 18th century authors. These copyrights were fully amortized by 2015. In early 2015, a new anthropological discovery made these copyrights worth $2,500,000. As a result, Riveria should report which of the following in its financial statements for 2015?
A) $2,500,000 as a holding gain B) $750,000 as copyrights-based recovery of value limited to historical cost C) $2,500,000 as an extraordinary item D) cannot be recognized under U.S. GAAP in the financial statements
Which of the following are included in the employer's payroll taxes?
A) SUTA taxes B) FUTA taxes C) FICA taxes D) all of the above
Brand management often involves conveying what about a product or service?
A. The solutions provided. B. The expected experience. C. The disadvantages of the product or service. D. Both the solutions provided and the expected experience.
An assurance engagement is one in which a CPA is engaged to ________.
A) issue a written communication expressing a conclusion concerning a subject matter for which an accountable party is responsible B) testify as an expert witness in accounting, auditing, or tax matters, given certain stipulated facts C) assemble prospective financial statements based on the assumptions of the entity's management without expressing any assurance D) provide tax advice or prepare a tax return based on financial information the CPA has not audited or reviewed