The tax rate on capital gains is determined solely by reference to the capital asset's holding period.
Answer the following statement true (T) or false (F)
False
The tax rate on long-term capital gain is either 0%, 15%, or 20% depending on the individual's taxable income.
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A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash dividend is:
A. Debit Common Dividend Payable $12,000; credit Cash $12,000. B. Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000. C. Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000. D. Debit Dividend Expense $12,000; credit Common Dividend Payable $12,000. E. Debit Dividend Expense $12,000; credit Cash $12,000.
One of the purposes of group __________ is to simplify and make more predictable the behaviors expected of the group members.
Fill in the blank(s) with the appropriate word(s).
Which of the following budgets is prepared at the end of the budget-construction cycle?
A. Production budget. B. Cash budget. C. Budgeted financial statements. D. Overhead budget. E. Sales budget.
One disadvantage associated with direct marketing is that it results in waste coverage.
Answer the following statement true (T) or false (F)