Perry, a U.S. citizen, is transferred by his employer to Japan for a three-year assignment. Which one of the following items is not excluded under Sec. 911?
A) base salary
B) cost-of-living allowance
C) housing costs
D) premiums paid on first $50,000 of group term life insurance
D) premiums paid on first $50,000 of group term life insurance
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Indicate whether the statement is true or false
A company wants to have $40,000 at the end of a five-year period through investment of a single sum now. How much needs to be invested in order to have the desired sum in five years, if the money can be invested at 10% (Ignore income taxes.)?Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.
A. $24,840 B. $12,882 C. $8,000 D. $10,551
Which of the following statements is true of process costing?
A) It uses one Work-in-Process Inventory account. B) It tracks and assigns both period costs and product costs to units produced. C) It accumulates product costs by production departments. D) It assigns manufacturing overhead costs to products only in the last production process.
On the balance sheet, net fixed assets represent ________
A) gross fixed assets at cost minus depreciation expense B) gross fixed assets at market value minus depreciation expense C) gross fixed assets at cost minus accumulated depreciation D) gross fixed assets at market value minus accumulated deprecation