Which of the following financial goals is most useful for developing a financial plan?
A. Make a $12,000 down payment on an automobile in 4 years.
B. Retire with a comfortable lifestyle in 25 years.
C. Buy a $125,000 house.
D. Purchase a $40,000 boat.
E. Join the county club on retirement in 20 years.
Answer: A
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Which of the following statements does not properly describe a defined benefit pension plan?
A. Many assumptions are made in the determination of pension expense. B. The employer bears little risk with respect to estimating the amount of the annual contributions to the plan. C. A pension plan asset is not recorded on the employer's balance sheet. D. The employee bears little risk with respect to estimating the amount of the annual contributions to the plan.
Shane Company uses an accelerated depreciation method for income tax purposes and the straight-line depreciation method for financial reporting purposes. As of December 31, 2016, Shane has a deferred tax liability balance related to depreciation temporary differences of $80,000. In 2017, depreciation for income tax purposes was $360,000, while depreciation for financial reporting purposes was
$300,000. If the income tax rate is 30%, no other temporary or permanent differences exist, and taxable income is $400,000,which of the following would be included in the entry to record income tax expense on December 31, 2017? A) Debit to Income Tax Expense for $138,000 B) Credit to Income Taxes Payable for $138,000 C) Debit to Deferred Tax Asset for $120,000 D) Credit to Deferred Tax Liability for $120,000
The consumer orientation maintains that marketers must satisfy customers' needs in ways that also benefit society
Indicate whether the statement is true or false
Bruno is a programmer at Apple. He is compensated at a rate of $30 per hour, and he is engaged in the design, development, documentation, analysis, creation, testing, and modification of Apple's systems. Bruno has which of the following exemptions from minimum wage and overtime pay requirements?