Which of the following is/are true?
a. Interpreting the income statement involves studying the relations among revenues, expenses, and net income both over time and across firms.
b. Comparisons are likely more valid for the same firm over time than across firms because of the difficulty in identifying truly similar firms.
c. In evaluating over-time performance of a given firm, the user must understand both current economic conditions and how those conditions may have changed over the period of analysis.
d. In evaluating across-firm performance, the user should control for the underlying business model by selecting peer firms that are similar, economically, to the firm being analyzed.
e. all of the above are true
E
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Kantian ethics distinguishes between the morality one uses to judge others and the morality one uses on oneself
Indicate whether the statement is true or false
Marcia, who is single, finished graduate school this year and began repaying her student loan. The proceeds of the loan were used to pay her qualified higher education expenses. She has not received any type of educational assistance or scholarships. The amount of interest paid during the year amounted to $3,000. What is the amount and classification of her student loan interest deduction if her AGI is $73,000?
A. $3,000 for AGI B. $2,500 for AGI C. $500 for AGI D. $2,000 for AGI
The least effective method of protecting against overdrafts generally is to
A) maintain a larger-than-normal account balance. B) arrange for automatic transfers from a savings account. C) arrange for a credit-card loan to cover the overdraft. D) ignore them since banks do not charge for overdrafts.
Through rulemaking procedures an agency develops administrative rules and spells out its regulatory policy
a. True b. False Indicate whether the statement is true or false