What function of the law is being served when passing laws that protect the U.S. government from the risk of being forcefully overthrown?
A) maintaining the status quo
B) shaping moral standards
C) facilitating orderly change
D) promoting social justice
A
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Which of the following statements about tax policy objectives regarding business expenses is false?
A. By disallowing a tax deduction, Congress increases the after-tax cost of undesirable expenditures. B. The business interest expense limitation increases the disparity between the tax treatment of debt and equity financing. C. The tax treatment of meals and entertainment expenses is intended to make the law more equitable. D. Lobbying expenses are not deductible because Congress does not want to subsidize political activities.
Each employer must have an Employer Identification Number (EIN) on all tax information
Indicate whether the statement is true or false
Why do publicly traded companies rely on the positive opinion of shareholders?
A) The SEC is liable to investigate a firm for financial fraud on a moment's notice. B) Firms need to keep demand for the company's stock high and the stock price strong. C) Shareholders consume more of a company's products than non-shareholders. D) Shareholders rarely, if ever, follow corporate business news. E) The financial media are not legally allowed to recommend stocks to investors.
Compton Products Inc Compton Products Inc manufactures humidifiers. The company currently makes all of the electronic components for the humidifier itself. When 10,000 units are manufactured each year, the motor costs per unit are as follows: Direct materials $6 Direct labor 8 Variable overhead 7 Fixed overhead 9 McClintock Inc has offered to sell Compton 10,000 motors for $25 per unit. If
Compton accepts the offer, 75% of the fixed overhead currently allocated to the motors could be avoided. Refer to the Compton Products Inc information above. What are the relevant costs per unit of Compton making the motors themselves? A) $21.00 B) $23.25 C) $27.75 D) $30.00