Capital gains on municipal bonds are:
A. fully taxable without any exceptions.
B. tax exempt.
C. tax deductible.
D. fully taxable except for appreciation to par for bonds originally issued at a discount.
E. tax exempt for bonds issued at a premium.
D. fully taxable except for appreciation to par for bonds originally issued at a discount.
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When one party breaches a sales contract, the UCC places the risk of loss on the party responsible for the breach
Indicate whether the statement is true or false
Online auctions (on the Internet) are becoming very popular as a way to determine how much customers are willing to pay for a product.
Answer the following statement true (T) or false (F)
Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: MachiningAssemblyTotalEstimated total machine-hours (MHs) 7,000 3,000 10,000Estimated total fixed manufacturing overhead cost$39,200$6,600$45,800Estimated variable manufacturing overhead cost per MH$1.90$2.10 During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: Job BJob GDirect materials$14,800$8,300Direct labor cost$22,000$8,900Machining machine-hours 4,800 2,200Assembly machine-hours 1,200 1,800 Assume that the company uses a plantwide predetermined manufacturing overhead
rate based on machine-hours. The amount of manufacturing overhead applied to Job G is closest to: A. $14,388 B. $11,772 C. $18,320 D. $26,160
What is the purpose of payroll-related accrual and reversal entries on financial statements?
What will be an ideal response?