The modified cash basis of accounting is usually used by small, professional service businesses
Indicate whether the statement is true or false
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All federal court judges or justices are appointed by the President and subject to approval
by which government body? a. The Senate b. The U.S. House of Representatives c. Both the Senate and the U.S. House of Representatives d. The U.S. Supreme Court
The calculation of the payback period for an investment when net cash flow is uneven is:
A. Determining the net present value for each cash flow. B. Determining when the cumulative total of net cash flows reaches zero. C. Determining which depreciation method will shorten the period. D. Determining the applicable hurdle rate. E. Determining when net income equals the cost of the investment.
Eliska is well established as a financial analyst at the Magnify Investment Company. She has significant financial responsibility for her family, and she has recently applied for a mortgage. Which of the following work value categories would likely be important to her?
A. pay B. environment C. achievement D. status E. altruism
Ronald Ferrer is an employee who drives a 2017 Chevrolet Malibu as a company car. The fair-market value of the car is $23,175. He has been given the choice to have his fringe benefit reported on his W-2 either using the lease-value rule or the cents-per mile rule. According to Publication 15-b, the lease value is $6,350. He has driven 2,500 miles for personal use and 23,500 miles in total during
the year. The car has been available for use on 250 days during the year. Ronald's employer pays for all fuel. What method and valuation will yield the lowest fringe-benefit amount for Ronald? (Do not round intermediate calculations, only round final answer to two decimal points.) A) Lease-value, $1,337.50 B) Cents-per-mile, $1,337.50 C) Lease-value, $600.19 D) Cents-per-mile, $600.19