The corporate alternative minimum tax was designed to insure that corporations with substantial economic income paid their fair share of the federal tax burden.
Answer the following statement true (T) or false (F)
True
The Tax Cuts and Jobs Act of 2017 repealed the corporate alternative minimum tax (AMT) beginning in 2018.
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Which one of the following statements is true?
A) One objective of depreciating an asset is to provide funds for replacement. B) GAAP requires the use of either straight-line or declining-balance depreciation. C) Straight-line depreciation results in a decreasing rate of return on total assets. D) Typically, the sum-of-the-years'-digits method will result in less depreciation expense in the year of acquisition than will the double-declining-balance method.
Answer the following statements true (T) or false (F)
1. Vertical communication is impeded by rivalry between work units. 2. Management by wandering around is an example of a formal communication channel. 3. The grapevine is faster than formal channels of communication. 4. Management by wandering around helps reduce the distortion that occurs with formal communication flowing up a hierarchy.
With respect to process costing, what is the difference in how the weighted-average and first-in, first-out (FIFO) methods treat beginning work-in-process units?
Last week's production at Morton Manufacturing was 1,600 units. This week the factory produced 1,913 units. What is the rate of change in production?
A) 21.8% B) 19.6% C) 67.2% D) 77.6%