All of the following items are included in gross income except
A) pension benefits received.
B) rent income.
C) interest earned on a bank account.
D) child support payments received.
D) child support payments received.
Child support is not taxable.
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Under the perpetual inventory system, in addition to making the entry to record a sale, a company would
A) record an increase in inventory corresponding to the amount of the sale. B) record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold. C) record an increase in inventory corresponding to the cost of the inventory. D) make no additional entry until the end of the period.
Ethics provide guidance about what is considered right and wrong behavior.
Answer the following statement true (T) or false (F)
Costs that flow directly to the current income statement and are not reported as assets are ________ costs.
What will be an ideal response?
The similarity between monolithic organizations and pluralistic organizations is that
A. minority group members tend to be clustered at certain levels in both these organizations. B. they fully integrate minority group members both formally and informally. C. discrimination and prejudices are nonexistent in these organizations. D. conflict among groups is very low in these organizations. E. they do not employ people from minority groups.