Payment by check is conditioned on the check being honored by the bank
Indicate whether the statement is true or false
TRUE
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The five steps of the creative process are:
A) Preparation, incubation, illumination, verification, and implementation B) Verification, incubation, concentration, idealization, and preparation C) Incubation, discussion, illumination, verification, and implementation D) Preparation, concentration, incubation, illumination, and verification
Mint Corporation has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the country in which the foreign entity is located. On October 1, 20X8, Mint purchased confectionary items from a foreign company at a price of LCU 5,000 when the direct exchange rate was 1 LCU = $1.20. The account has not been settled as of December 31, 20X8, when the exchange rate has decreased to 1 LCU = $1.10. The foreign exchange gain or loss on Mint's records at year-end for this transaction will be:
A. $378 gain B. $500 gain C. $5,500 loss D. $500 loss
An association class is used to represent whole/part relationships
Indicate whether the statement is true or false
Drake and Davina are married and file a joint return for 2018 with taxable income of $100,000 and tax preferences and adjustments of $65,000 for AMT purposes. Their regular tax liability is $13,879. What is the amount of their total tax liability?
A) $14,456 B) $42,900 C) $28,335 D) $13,789