The Hispanics in the United States who share some distinctive beliefs such as strong family values and religious faith are an example of a ________
A) subculture
B) reference group
C) social class
D) microculture
E) lifestyle
A
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Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement?
A. Management's refusal to permit the CPA to perform substantive procedures before the year-end. B. Management's disregard of its responsibility to maintain an adequate control environment. C. The CPA's inability to determine whether related party transactions were consummated on terms equivalent to arm's-length transactions. D. The CPA's lack of understanding of the prospective client's internal auditor's computer-assisted audit techniques.
Mario is a real estate and financial consultant who owns and operates his own business as a sole proprietor. His adjusted gross income, excluding the items below, is $48,000. The following information relates to his current-year activities and income tax.
a. Land adjacent to his office was purchased in 2019 for an anticipated expansion. It cost $10,000 but is sold later in the year for $17,000. ? ? b. His office building is sold for $250,000 in anticipation of moving to a different location. The building was purchased in 1994 for $200,000, with 10% of the cost allocated to the land. Depreciation taken on the building was $100,000. ? ? c. Office furniture that cost $20,000 and was fully depreciated is sold for $6,000. ? ? d. A color copier purchased two years ago for $50,000 is traded for 200 shares of Microsoft stock that were worth $24,000 on the date of the exchange. The copier had a basis to Mario of $35,000 but is worth only $24,000 on the date of the exchange. ? ? e. Mario's automobile, which he used 100% for business and had cost him $18,000 in 2010, is sold for $8,000. Depreciation of $6,000 had been taken on the automobile. ? REQUIRED: Fill in the following table by listing the amount and proper treatment of the recognized gain or loss from each of the above transactions. Identify by letters a–e. Ordinary Sec. 1231 Capital Gain (Loss) Unrecaptured Income Gain (Loss) Short-term/Long term Sec. 1250 Gain a.b.c.d.e.What is Mario's net capital gain (loss) for the current year? ? What will be an ideal response?
The following is NOT one of the fundamental criteria for recognition?
a. Timeliness b. Measurability c. Relevance d. Reliability
The use of supply chain partners to provide products or services is called:
A) outsourcing. B) insourcing. C) offloading. D) partnering.