All antitrust suits are brought by the federal government
a. True
b. False
Indicate whether the statement is true or false
False
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A variable costing income statement is also called a traditional income statement
Indicate whether the statement is true or false
On March 1 . 2014, Hardy Corp became the lessee of new equipment under a noncancelable six-year lease. The total estimated economic life of this equipment is ten years. The fair value of this equipment on March 1 . 2014, was $100,000 . The lease does not meet the criteria for classification as a capital lease with respect to transfer of ownership of the leased asset, or bargain purchase option,
or lease term. Nevertheless, Hardy must classify this lease as a capital lease if, at inception of the lease, the present value of the minimum lease payments (excluding executory costs) is equal to at least a. $67,500. b. $75,000. c. $90,000. d. $100,000.
Which statement below is not a determinate in calculating the amount of federal income taxes withheld from an individuals pay?
A) filing status B) types of earnings C) gross pay D) number of exemptions
Which of the following statements concerning internal controls is true?
A. The control procedure, segregation of duties, prohibits the employment of a husband and wife or other closely related parties within the same company. B. Internal accounting controls are limited to the policies and procedures used to protect the company from embezzlement. C. Strong internal controls provide reasonable assurance that the objectives of a company will be accomplished. D. Internal administrative controls are designed to limit the amount of funds spent on investments.