For each of the following definitions, select the key term from the list that best matches by placing the appropriate terms.A. Unrelated business incomeB. Public charityC. Charitable solicitationD. LobbyingE. Debt financed incomeF. Private foundationG. Propaganda________1. A not-for-profit exempt under IRC Sec. 501(c)(3) that receives most of its support from a small number of donors or investment income than it does from the public at large.________ 2. A direct request for credit or financial assistance that will be used for the 501(c)(3)'s mission.________ 3. Information that is skewed toward a particular belief with little basis in fact.________ 4. Gross income from a trade or business regularly carried on by a tax-exempt organization.________ 5. Contacting elected officials to
encourage specific legislative action.
What will be an ideal response?
1. F, 2. C, 3. G, 4. A, 5. D
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A truck that cost $24,000 and on which $18,000 of accumulated depreciation has been recorded was disposed of on January 1. Assume that the truck was disposed of for $4,000 cash. The entry to record this event would include
A) a debit to Cash. B) a debit to Accumulated Depreciation. C) a debit to Loss on Sale of Truck. D) all of these choices.
What is the early finish time for activity K?
Project Sand Mandala Carrie meticulously calculated the early and late start and finish times for her latest project and recorded them using different colors of sand on a pristine slab of white marble. She used red for late start and late finish times and green for early start and early finish times. Activity durations and their identifiers were written with black sand. She finished her task and had an opportunity to admire her work only briefly before a colleague came by and swept most of it away. Sadly, this was before Carrie could record the numbers on a more permanent medium, so now she turns to you to help. Activity Predecessor Duration Early Start Early Finish Late Start Late Finish A - 10 B - 7 11 C A 7 D A 15 14 E B 11 19 F B 10 G D,E 24 H F 24 J C 28 K G,H,J 36 A) 36 B) 35 C) 34 D) 33
One insured status under Social Security requires you to have earned at least six credits during the last 13 calendar quarters ending with the quarter of death, disability, or entitlement to retirement benefits. This insured status is
A) disability insured. B) temporarily insured. C) fully insured. D) currently insured.
Dakota Oil, Inc. reported that its sales and EBIT increased by 10%, but its EPS increased by 30%
The much larger change in earnings per share could be the result of A) a high percentage of credit sale collections from prior years. B) high financial leverage. C) high operating leverage. D) high fixed costs of production.