Misdemeanors are punishable by ________
A) death
B) imprisonment of less than a year in a local jail
C) imprisonment in a penitentiary
D) imprisonment of at least five years
B
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GASB standards for property tax revenue recognition under the modified accrual basis of accounting provide that revenue is permitted to be recorded if the expected amount to be collected can be determined and collection is reasonably assured, even if the taxes are expected to be collected more than 60 days after the fiscal year end.
Answer the following statement true (T) or false (F)
A characteristic common to banks, utilities, and transportation is that they:
a. are all government owned. b. are not subject to the rules of the FASB. c. are monopolies. d. each have a uniform system of accounts established by a federal regulatory agency. e. never go bankrupt.
Short-term capital gain is eligible for a special tax rate only when it exceeds long-term capital gain.
Answer the following statement true (T) or false (F)
Which of the following is the best advice when using graphics in reports?
A) Use colored graphics to add visual interest. B) Don't introduce a graphic; a good graphic should communicate clearly itself. C) Avoid summarizing the main point of the graphic. D) Avoid the use of headings on a graphic.