A firm purchased an asset with a 5-year life for $90,000, and it cost $10,000 for shipping and installation. According to the current tax laws the cost basis of the asset at time of purchase is
A) $100,000.
B) $95,000.
C) $80,000.
D) $70,000.
Answer: A
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In 2018, all C Corporations receive a permanent tax cut from 35 percent to 21 percent.
Answer the following statement true (T) or false (F)
Which of the following statements is true?
A. Direct costs can be traced easily to a cost object, but indirect costs cannot be easily traced to a cost object. B. Neither direct nor indirect costs are easily traced to a cost object. C. Indirect costs can easily be traced to a cost object; direct costs cannot be easily traced to a cost object. D. Both direct and indirect costs can easily be traced to a cost object.
A group of welders is trying to decide if they should join the union or not. They have heard pros and cons about unions. As the manager of this group, you are in support of them joining the union because of its effect on productivity. What do you think the manager knows about unions that the welders may not?
What will be an ideal response?
Julie is looking to sell her flower shop. She should hire a(n) _____ to help her find a buyer and negotiate the sale.
A. stock broker B. investment broker C. real estate broker D. business broker