When a security is sold at a loss and and a substantially identical security has been purchased within 30 days before the sale date the loss is disallowed because it is classified as a wash sale
a. True
b. False
Indicate whether the statement is true or false
True
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While fishing in a lake, George anchored his new motorboat and went ashore to make an important phone call. He accidently left the key in the boat and Jeb stole the boat. While driving the boat recklessly, Jeb hit Angela, who was water skiing and severely injured her. Should George be responsible for Angela's injuries?
What will be an ideal response?
Research and development costs are
a. treated as an expense when incurred. b. capitalized but not amortized. c. capitalized and amortized over the periods that will probably benefit from the research and development. d. included with the cost of the patent resulting from the research and development.
A firm can use alpha testing, where individuals within the firm simulate the target customer's use of a nearly realized product
After making any necessary adjustments or refinements, the firm proceeds with beta testing, where the firm provides select customers with the new offering and gains feedback on it from the customers' experiences. Indicate whether the statement is true or false
If a debtor defaults on a credit contract, the creditor may:
a. impose a late charge. b. garnish wages if there has been a court proceeding to enforce collection of a judgment. c. declare the entire balance of the debt immediately due and may sue on the debt. d. All of these. e. Both impose a late charge and declare the entire balance of the debt immediately due and sue on the debt.