[APPENDIX] Deferred income taxes arise because
a. corporations often make errors in their tax estimations.
b. companies can use accounting methods that minimize net income for tax purposes and other methods that maximize net income for reporting to shareholders.
c. the IRS owes a company a refund from last year.
d. large corporations generally have operations in foreign countries whose tax law is quite different from U.S. tax law.
b
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A restraint that is merely ancillary to a contract may be legal if:
A. its purpose is to recover punitive damages. B. its purpose is to restrict trade indefinitely. C. it is designed to protect interests created by the contract. D. it attempts to relieve one party from liability for willful misconduct.
The parol evidence rule allows oral testimony to help the court clarify terms of a vague contract
a. True b. False Indicate whether the statement is true or false
A firm may be departmentalized by function, product, location, and customer. Explain how each method groups jobs into units.
What will be an ideal response?
The biggest advantage of the data flow approach lies in the conceptual freedom found in the use of the four symbols
Indicate whether the statement is true or false