Payments on an installment note normally include the accrued interest expense plus a portion of the amount borrowed.
Answer the following statement true (T) or false (F)
True
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To be classified as a tort, a wrongful act
a. may be deliberate. b. may be a result of carelessness. c. must result in injury to a person or a person's property. d. all of these.
Felicity and Gideon want to form and do business as Home Healthcare Corporation. A corporation is
A. a natural being. B. a tangible thing. C. an artificial person. D. a visible radiance.
The total return on a share of stock refers to the dividend yield less any commissions paid when the stock is purchased and sold.
Answer the following statement true (T) or false (F)
Several years ago, Nipher paid $70,000 to purchase equipment to use in its business. This year, it sold the equipment for $76,500. Accumulated MACRS depreciation through date of sale was $18,000. Determine the amount and character of Nipher's gain recognized.
A. $18,000 ordinary gain and $6,500 capital gain B. $18,000 ordinary gain and $6,500 Section 1231 gain C. $24,500 Section 1231 gain D. $24,500 ordinary gain