Which of the following statements is true about the taxing powers of the federal government?
A) The U.S. Congress can levy different taxes on different states.
B) The Internet Tax Freedom Act permanently banned taxes on the Internet.
C) States are only allowed to require a business to submit sales tax payments if the business has a store or distribution center in the state.
D) The government charges lower taxes to discourage the development of certain industries.
C
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Explaining the circumstances surrounding the presentation is often effective in
A) identifying your main supporting points. B) arousing the interest of the audience. C) summarizing the main idea of your presentation. D) revealing the order in which you'll develop your main points. E) identifying yourself as an expert on the topic.
Which of the following is/are true?
a. Management can sell securities with unrealized holding gains (or losses) and transfer through net income to Retained Earnings the entire unrealized holding gain (or loss)—that is, management can affect the timing of gain or loss recognition in net income for securities available-for-sale, but not for trading securities. b. The timing ability is asymmetric in that impairment rules preclude indefinite deferrals of the recognition in income of unrealized losses, but not unrealized gains. c. Users of the financial statements should be alert to the accounting effect on net income in evaluating the profitability of firms with both trading securities and securities available-for-sale. d. all of the above e. none of the above
Which of the following is not a characteristic of a defined benefit plan?
a. The employee makes all contributions to the plan. b. Benefits may be paid as a single lump sum amount at retirement date. c. Benefits can be based on career average salary. d. In all cases, the value of pension benefits is directly related to the employee’s years of service.
The traditional view of social responsibility of business emphasized maximizing profits for employees rather than for shareholders
Indicate whether the statement is true or false