Assuming certain conditions are met, a single person may exclude up to $250,000 of the capital gain on the sale of your personal residence
Indicate whether the statement is true or false
TRUE
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A price tactic that requires the buyer to absorb the freight costs from the shipping point is called ______________.
A. value-based pricing B. FOB origin pricing C. uniform delivered pricing D. zone pricing
Which of the following is an accounting information system activity that can be classified as a payroll business transaction?
A) approval of new employees B) receipt of customer payment C) processing of vendor invoices D) payment for goods or services
Match the following definitions and terms by placing the letter that identifies the bestdefinition in the blank space next to the term.____ 1. Source documents____ 2. Debit____ 3. Posting____ 4. Double-entry accounting____ 5. Ledger____ 6. Journal____ 7. Account____ 8. Credit____ 9. T-account____ 10. Trial balanceA. Decrease in an asset, dividend and expense account, and increase in a liability, common stock and revenue account; recorded on the right side of a T-account. B. A record containing all the accounts of a company and their balances. C. An accounting system where each transaction affects and is recorded in at least two accounts; the sum of the debits for each entry must equal the sum of its credits.D. A company's record of each transaction in one place that shows debits and
credits for each transaction.E. An increase in an asset, dividend, and expense account, and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.F. A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item.G. A representation of a ledger account used to understand the effects of transactions.H. A list of accounts and their balances at a point in time.I. The process of transferring journal entry information to the ledger accounts.J. Identify and describe transactions and events entering the accounting system. What will be an ideal response?
The FUTA tax rate most often actually paid by employers is 0.8 percent
Indicate whether the statement is true or false