If a limited partner materially participates in the trade or business of a limited partnership, the passive loss rules still apply.
Answer the following statement true (T) or false (F)
True
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On January 1, 2016, the Mills Car Repair Company acquired equipment at a cost of $55,000. At that time, the equipment was estimated to have a residual value of $5,000 at the end of an estimated five-year service life. During 2016 and 2017, the company recorded straight-line depreciation on the equipment.
Required: Prepare all the journal entries for 2018 relating to the equipment for each of the following independent situations (ignoring income taxes): ? a. Assume that the company switched to sum-of-the-years'-digits depreciation at the beginning of 2018 with a new estimated remaining life of four years. b. Assume, instead, that at the beginning of 2018, the equipment is determined to have a five-year remaining service life. Straight-line depreciation will still be used. c. Assume, instead, that at the beginning of 2018 the company discovered that it had erroneously ignored the estimated residual value in the computation of its depreciation for 2016 and 2017. What will be an ideal response?
Cash and cash equivalents are considered ____________________ assets
Fill in the blank(s) with correct word
A department store requires its ladies suit vendors to pre-ticket garments, press them, and place them on hangers. The strategy most directly describes which policy?
a. logistics management b. electronic data interchange c. floor-ready management d. efficient consumer response
In which way was the Globe study research distinctly different from the research that Hofstede conducted?
a. There were only minor differences as both studies used the same methodology. *b. The Globe study research constructs were defined, conceptualized, and operationalized by a multicultural team of researchers. c. Hofstede’s research included more White participants. d. Hofstede’s study used a larger study population.