If the subject matter of a contract turns out to be more valuable than one of the parties believed it would be, that party can rescind the contract.
Answer the following statement true (T) or false (F)
False
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Myanmar people are very similar to Japanese in some ways
Indicate whether the statement is true or false
An asset was purchased for $120,000 and originally estimated to have a useful life of 10 years with a residual value of $10,000. After two years of straight line depreciation, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,000. Calculate this year's depreciation using the revised amounts and straight line method
A) $25,000 B) $11,000 C) $24,000 D) $24,500
The Incoterm acronym FOB (named loading port), refers to
Fill in the blank(s) with the appropriate word(s).
Ashley, a U.S. citizen, works in England for part of the year. She earns $40,000 in England, paying $10,000 in income taxes to the British government. Her U.S. income is $60,000 and she pays $12,000 in U.S. taxes. Her taxes on her worldwide income are $20,000. What is Ashley's foreign tax credit? Assume she does not qualify for the foreign-earned income exclusion.
A) $8,000 B) $10,000 C) $12,000 D) none of the above