Prescription drugs obtained outside the United States, such as from Canada, are never deductible on a U.S. tax return.
Answer the following statement true (T) or false (F)
False
Prescription drugs from outside the US are deductible if approved for import by the FDA and prescribed by a physician.
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In many countries, the marketing, economic, structural, information, and technological environments are not developed to the extent that they are in the United States
Indicate whether the statement is true or false
Lassen Corporation issued ten-year term bonds on January 1, 2010, with a face value of $800,000 . The face interest rate is 6 percent and interest is payable semi-annually on June 30 and December 31 . The bonds were issued for $690,960 to yield an effective annual rate of 8 percent. The effective interest method of amortization is to be used. The carrying value of the bonds payable on the
December 31, 2010, balance sheet date should be (rounded to the nearest dollar) a. $696,412. b. $698,236. c. $698,382. d. $690,960.
Which of the following statements is INCORRECT regarding the rights of shareholders? I. voting power on major issues and ownership in a portion of the company II. right to transfer ownership and dividend entitlement III. hire and fire management and select and appoint a chief executive
a. I and II b. I, II, and III c. I only d. III only
Which of the following describes regulatory arbitrage?
A. Finding a way of reducing capital requirements without changing the risks being taken B. Buying products that are not subject to regulation C. Shorting products that are not subject to regulation D. Trading with the government