Ad blockers operate in a manner similar to which of the following?
A. anti-virus software
B. firewalls
C. Flash cookies
D. anonymous browsing
Answer: B
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On December 31, 2018, the Lilly Corporation reported a deferred tax liability totaling $12,000, resulting from depreciation temporary differences pertaining to a depreciable asset purchased during 2018. Lilly uses straight-line depreciation over four years for GAAP (book) purposes; for tax purposes, the depreciation deduction is 40% of cost during 2018, 30% of cost during 2019, 20% of cost during 2020, and 10% of cost during 2021. During 2019, Lilly expensed $75,000 of warranty costs that will be deducted for tax purposes in future years. During 2019 Lilly also accrued revenue totaling $150,000 which is taxable in 2020. Lilly's GAAP (book) income before taxes during 2019 totaled $397,700. The marginal income tax rate is 40% for all years.Requirement: Prepare the journal entry to record
income tax expense for the year ended December 31, 2019. What will be an ideal response?
Answer the following statements true (T) or false (F)
1.Antidumping duties result in an increase in consumer surplus. 2.The result of antidumping duties is to impose a floor on foreign prices. 3.According to U.S. trade law, dumping is defined as selling a product at a price that is greater than fair value. 4.The most likely/common reason for international dumping is that firms are international price discriminators, responding to different demand conditions in different markets.
Which of the following is NOT involved in risk control?
A. Establishing contingency funds B. Executing the risk response strategy C. Establishing a change control system D. Watching for new risks E. Initiating contingency plans
Which of the following is true of trading investments?
A) They are held for more than two years. B) They are generally recorded as long-term investments. C) They must be adjusted and reported at fair value at the end of each accounting period. D) They are always reported on the balance sheet at their historical cost.