The tax shelter offered by home ownership increases the overall cost of owning your home.
Answer the following statement true (T) or false (F)
False
Interest on home loans and real estate taxes paid are both deductible from taxable income on an individual's federal income tax return. This, in effect, lowers the cost of home ownership.
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Audit findings represent a summary of incorrect transactions detected during the audit
a. True b. False Indicate whether the statement is true or false
Electronic authorization privileges for cash transactions may be best assigned to individuals based on which of the following?
a. Roles and activities falling within appropriate segregation of duties. b. Identification cards with picture identification. c. Encrypted passwords memorized by employees. d. The principle of "absolute knowledge".
Hesson Properties, Inc Transactions for Hesson Properties are provided below. Nov. 1 Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson's property, plant, and equipment records. Payment is due in 30 days. Nov. 8 Hesson accepts $75 of advance payments from customers for services to be provided in December. Nov. 15 Hesson receives the utility bill for
$150. Payment is due in 30 days. Nov. 20 Customers are billed $750 by Hesson for property services. Payment is due from the customers in 30 days. Nov. 30 Hesson received $500 from customers who were billed on November 20th. Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 1st transaction? A) Equipment 750Accounts Payable 750 B) Equipment 750Cash 750 C) Cash 750Equipment 750 D) Accounts Payable 750Equipment 750
An advantage of transportation by trucks is that ______.
a. they can be used with intermodal transportation b. they can travel over water c. they can carry more goods per dollar of fuel costs d. they are not regulated by government