Syndication costs arise when partnership interests are being marketed to investors. These costs cannot be amortized or deducted
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: Syndication costs include brokerage fees, legal fees, and registration fees incurred in connection with marketing interests in partnerships. Under ยง 709, these costs are neither amortizable nor deductible.
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Which of the following statements is true?
a. The fixed asset ratio is not useful for comparing different companies. b. A smaller fixed asset turnover ratio is associated with firms that are more labor intensive and require smallerfixed asset investments. c. The fixed asset ratio cannot be compared across time for an individual company. d. A larger fixed asset turnover ratio is associated with firms that are more labor intensive and require smallerfixed asset investments.
York Merchandising Company uses a perpetual inventory system. At the end of the accounting period, a physical count of merchandise inventory reveals a balance of $76,500. The books show a balance of $78,200.
(a) Prepare the adjusting entry. Omit explanation. (b) Discuss the possible causes for the difference between the physical count and the balance in the books. (c) How does this affect net income?
Value -based systems are information systems that provide customer- related, activity -based information
Indicate whether the statement is true or false
The best memos are:
b. Concise c. Written in plain English d. Organized e. All of the above f. None of the above