Which of the following is not a one-time fee connected with purchasing a house?
A) Down payment
B) Private mortgage insurance
C) Closing costs
D) Points
E) Origination fee
Answer: B
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Indicate whether the statement is true or false
A major repair to an asset that extends the useful life of that asset is always charged directly to an appropriate repair expense account
Indicate whether the statement is true or false
The two business entities involved in an investment in securities with controlling influence, for which consolidated financial statements are prepared, are known as:
A. Both are referred to as partners. B. Parent and Subsidiary C. Consolidator and Parent D. Subsidiary and Investee E. Parent and Investor
Shanika lives in Oregon which imposes a state tax on income. For 2018, Shanika had the following transactions related to her state income taxes: State taxes withheld in 2018$3,500State refund received in 2018 of 2017 tax 600Additional assessment paid in 2018 of 2016 tax 750Shanika plans to itemize on her 2018 return. What amount of state and local taxes should Shanika deduct in calculating itemized deductions for her 2018 federal income tax return?
A. $4,850. B. $3,500. C. $4,250. D. $750.