When a court has power over the person who is the defendant of a lawsuit, it is called:
a. in rem jurisdiction
b. quasi in rem jurisdiction c. in personam jurisdiction d. concurrent jurisdiction
e. none of the other choices are correct
c
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The value added tax (VAT) has not had wide acceptance in the international community.
Answer the following statement true (T) or false (F)
Income tax expense in interim reporting should:
a. be based on the quarterly income only. b. contain a judgment estimation of the annual effective tax rate. c. be based on the income year-to-date. d. exclude extraordinary items in earlier quarters of the year. e. disregard year-end adjustments.
The first draft of a message focuses on ________
A) analyzing your audience B) getting your thoughts on paper C) evaluating your word choices D) perfecting your grammar E) creating a purpose statement
Garden Company had pretax accounting income of $24,000 during 2014 . Garden's only temporary difference for 2011 relates to a sale made in 2012 and recognized for accounting purposes at that time. However, Garden uses the installment sales method of revenue recognition for tax purposes. During 2014 Garden collected a receivable from the 2012 sale which resulted in $6,000 of income under the
installment sales method. Garden's taxable income for 2014 would be a. $6,000. b. $18,000. c. $24,000. d. $30,000.