On December 1, Robert, a cash-method taxpayer, borrows $10,000 from the bank for use in his business. Under the terms of the loan, the bank discounts the loan by $300, paying Robert the $9,700 cash proceeds. If Robert repays the loan next year, he may deduct
A) $300 next year.
B) $300 this year.
C) $25 this year and $275 next year.
D) nothing since the note is "noninterest-bearing."
A) $300 next year.
A cash-basis taxpayer gets the deduction in the year in which interest is paid.
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She thought about what she could do to avoid or modify these behaviors so that she could be more successful the next time she was in a dispute with Annabeth. Of the four phases of the experiential learning cycle (experience, identify, analyze, and generalize), Maribeth is generalizing. Indicate whether the statement is true or false.
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Answer the following statement true (T) or false (F)
A bailment passes title from the bailor to the bailee
Indicate whether the statement is true or false
Which of the following is correct in reference to a database?
A. A database can support up to 3 logical views. B. A database can support many physical views. C. A database can support many logical views. D. A database can support only one logical view.