Exempt activities ______.
A. support direct services
B. directly support a social mission
C. consist solely of volunteer workers
D. generate income for the organization
B. directly support a social mission
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Ballantine Products, Inc, reported an excess of warranty expense over warranty deductions of $72,000 for the year ended December 31 . 2014 . This temporary difference will reverse in equal amounts over the years 2015 to 2017 . The enacted tax rates are as follows: 2014 ............................ 40% 2015 ............................ 35% 2016 ............................ 30% 2017
............................ 25% The reporting for this temporary difference at December 31 . 2014, would be a a. deferred tax liability of $23,400. b. deferred tax asset of $23,400. c. current deferred tax liability of $7,200 and a noncurrent deferred tax liability of $16,200. d. current deferred tax asset of $7,200 and a noncurrent deferred tax asset of $16,200.
A(n) ________ is defined as intentional misrepresentation or omission of a material fact that is relied on by the client and causes the client damage
A) unqualified opinion B) actual fraud C) disclaimer of opinion D) constructive fraud
Which sentence expresses numbers correctly?
A) To print the new flowchart, we needed legal paper measuring eight by fourteen inches. B) To print the new flowchart, we needed legal paper measuring eight by 14 inches. C) To print the new flowchart, we needed legal paper measuring 8 by 14 inches.
If the production technology is very inflexible and product requirements vary from one country to another, a firm has to set up
A) local facilities to serve the market in each country. B) a few high-capacity facilities to serve the market in each country. C) many local facilities because this helps lower transportation costs. D) a few high-capacity facilities because this helps lower transportation costs.