A long-term capital gain results from profit on the sale of capital assets that were held 12 months or more
Indicate whether the statement is true or false.
Answer: TRUE
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Newer, more strategically oriented purchasing departments have a mission. Which of the following most accurately describes that mission?
A) Make the most profit possible and remain independent of entanglements. B) Approach every purchasing opportunity as means to create interdependency. C) Seek the best value from fewer and better suppliers. D) Outsource the supply function. E) Abandon all strategies except for systems selling and buying.
Under accrual accounting, revenue is recognized when
a. the firm has performed all, or most of, the services it expects to provide. b. the firm has received cash, or some other asset such as a receivable, whose cash-equivalent value it can measure with reasonable precision. c. the firm has significant uncertainty about the amount and timing of the cash inflows and outflows from the sales transaction. d. both a and b must be present. e. none of the above.
The 25–75 rule can create a problem in which of the following?
A. primary–secondary questions B. micro listening climate C. written communication D. organizing a message
When management intends to purchase long-term bonds and sell them before maturity, they are:
a. classified as available-for-sale securities. b. accounted for at fair value. c. Both of these are correct. d. Neither of these is correct.