The World Wide Web is an electronic connection of millions of computers that support a(n) ________ set of rules for the exchange of information.
A. standard
B. ever-changing
C. imprecise
D. irregular
Answer: A
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Assume that you want to determine the profit margin for a company. Which one of the following financial statements is the best source of this information?
a. Statement of retained earnings b. Statement of cash flows c. Statement of stockholders' equity d. Income statement
The product life-cycle concept from microeconomics and marketing provides useful insights into the relations between cash flows from operating, investing, and financing activities. During the growth phase
a. cash inflow exceeds cash outflow for operations. b. cash outflow exceeds cash inflow for operations. c. cash inflow exceeds cash outflow for investing activities. d. cash outflow exceeds cash inflow for financing activities. e. cash inflow exceeds cash outflow for financing activities.
The Anti-Counterfeiting Trade Agreement is most likely to apply to
A. pirated copyrighted works distributed via the Internet. B. personal financial information on its owner's laptop. C. legally downloaded recordings on a user's iPod. D. a business firm's trade secrets cached on the firm's server.
Firm F purchased a commercial office building for business use in 2008 for $965,000. This year, the firm sold the building for $1 million. Accumulated MACRS depreciation through date of sale was $275,000. Which of the following statements is true?
A. If Firm F is a noncorporate taxpayer, it recognizes $310,000 Section 1231 gain. B. If Firm F is a corporation, it recognizes $55,000 ordinary income and $255,000 Section 1231 gain. C. Both if Firm F is a corporation, it recognizes $55,000 ordinary income and $255,000 Section 1231 gain and if Firm F is a noncorporate taxpayer, it recognizes $310,000 Section 1231 gain are true. D. If Firm F is a corporation, it recognizes $62,000 ordinary income and $248,000 Section 1231 gain.