Losses are generally deductible if incurred in carrying on a trade or business or incurred in an activity engaged in for profit.
Answer the following statement true (T) or false (F)
True
Losses are generally deductible if incurred in relation to carrying on a trade or business or in activity engaged in for profit, but are generally not allowed on personal-use assets.
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A 12% change in sales will result in a 12% change in net income
a. True b. False Indicate whether the statement is true or false
Which of the following communication factors is influenced by culture?
a. Standing or sitting close to others b. Being very conscious about time c. Being more group-oriented d. Speaking a different language e. All of the above are influenced by culture.
In a responsibility accounting system, costs are classified into categories on the basis of
a. fixed and variable costs. b. prime and overhead costs. c. administrative and nonadministrative costs. d. controllable and noncontrollable costs.
The five major families of law include all but which of the following?
A) common B) Romano-Germanic C) Islamic D) Asian-Pacific