Which of the following is true of sole proprietorships and corporations?
A) It is difficult to transfer ownership of corporations compared to that of sole proprietorships.
B) Income from both forms of organizations are taxed only at the corporate level.
C) Both sole proprietorships and corporations are equally scrutinized and regulated by government bodies.
D) In sole proprietorships, owners have unlimited liability; whereas, in corporations, owners have limited liability.
D
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All of the following are benefits of delegating, EXCEPT ______.
a. managers have more time to perform high-priority tasks b. delegation improves employee self-esteem c. delegation enriches jobs d. delegation decreases the number of medium-priority tasks
The comparison of actual outcomes with desired outcomes is an example of a(n):
A) planning activity. B) control activity. C) operating activity. D) static activity.
The U.S. tax code is complicated because the government not only uses it to collect money, it also uses the tax code to do what?
What will be an ideal response?
Capitalizing an expenditure rather than recording it as a revenue expenditure
A. impacts the total book value of plant assets reported on the balance sheet and the amount of net income reported during a period. B. impacts the total book value of plant assets on the balance sheet, but has no effect on the amount of net income reported during an accounting period. C. impacts the amount of net income reported during an accounting period, but has no effect on the total book value of plant assets on the balance sheet. D. has no impact on the book value of plant assets on the balance sheet or the amount of income reported on the income statement.