Which of the following is likely to be a fully deductible business expense?
A. The cost of a three-year subscription to a business publication.
B. The cost of employee uniforms that can be adapted to ordinary personal wear.
C. Salaries in excess of the industry average paid to attract talented employees.
D. A speeding fine paid by a trucker who was delivering a rush order.
E. None of the choices are likely to be deductible.
Answer: C
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Major assumptions made in measuring business income include all of the following except
A) continuity. B) periodicity. C) matching. D) accrual accounting.
Corporations are governed by federal law.
Answer the following statement true (T) or false (F)
A sales territory is not advisable in the life insurance industry. Why?
What will be an ideal response?
The ________ for natural skin care company Burt's Bees is to "create natural, Earth-friendly personal care products formulated to help you maximize your well-being and that of the world around you."
A. financial plan B. company description C. executive summary D. mission statement. E. market analysis