If a prepayment is a requirement for the receipt of the medical care, the payment is deductible in the year paid rather than the year in which the care is rendered.
Answer the following statement true (T) or false (F)
True
Generally, prepayments are deferred. An exception applies if the prepayment is required for the medical treatment.
You might also like to view...
In a special order decision, unavoidable current fixed costs are taken into consideration in setting a sales price
Indicate whether the statement is true or false
The time needed to develop a graphic, the cost of developing the graphic, and the effectiveness of the graphic are the only considerations in the use of graphics
Indicate whether the statement is true or false
While teaching strategy at Farrell University, Jessica developed an interactive strategy-simulation game to inculcate the concept of strategy to her students. She found that they were able to grasp the concept much better from the game rather than from reading books. For two years Jessica used the game to teach students. Eventually she removed possible glitches and perfected the game. She wanted students at other universities to benefit from the simulation. The result was the launch of Simulate Strategy, Inc. Some of Jessica's students suggested that she create a website for Simulate Strategy, Inc. Her company is fairly new and opening a website immediately would expose her company to customers from around the world. In this scenario, Simulate Strategy is an example of a ________.
A. sheltered workshop B. freight forwarder C. contract manufacturer D. born international
Sales jobs are a major part of the U.S. economy. About what percentage of employed workers in the U.S. are in some type of sales job?
A. 15 percent B. 2 percent C. 5 percent D. 20 percent E. 10 percent