Which of the following factors is not used to determine whether an activity is a hobby or a business?
A. the personal pleasure derived from the activity
B. the taxpayer's financial status
C. the taxpayer's expertise in the activity
D. the success of the taxpayer in other dissimilar activities
Answer: D
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Flexible budgeting is a reporting system wherein the:
a. Statements included in the budget report vary from period to period. b. Budget standards may be adjusted at will. c. Reporting dates vary according to the levels of activity reported upon. d. Planned level of activity is adjusted to the actual level of activity before the budget comparison report is prepared.
Why do firms monitor technology usage?
What will be an ideal response?
Both U.S. GAAP and IFRS require the disclosure of information about the rights of each type of capital stock outstanding
Indicate whether the statement is true or false
The easiest part of ratio analysis is:
A) the interpretation of the ratio. B) analyzing trends or changes in them. C) using the ratio to make decisions. D) the computation of the ratio.