In the context of opportunities and threats, overhead costs for small businesses:
A. tend to be much higher than large businesses.
B. are about the same as big companies.
C. are often lower than big companies.
D. tend to decrease as they grow bigger in size.
Answer: C
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Hewlett and Martin are partners. Hewlett's capital balance in the partnership is $55,500, and Martin's capital balance $52,500. Hewlett and Martin have agreed to share equally in income or loss. The existing partners agree to accept Black with a 20% interest. Black will invest $36,700 in the partnership. The bonus that is granted to Hewlett and Martin equals:
A. $1886 each. B. $3670 each. C. $3880 each. D. 1886 to Hewlett; $1835 to Martin. E. $0, because Hewlett and Martin actually grant a bonus to Black.
Define the two categories of intellectual property
Anton Company paid cash to prolong the life of one of its assets. Which of the following choices accurately reflects how this event would affect Anton's financial statements? Assets=Liab.+EquityRev.?Exp.=Net Inc.Cash FlowA.+/?=NA+NANA?NA=NANAB.+/?=NA+NANA?NA=NA? IAC.?=NA+?NA?+=?? OAD.?=NA+?NA?+=?NA
A. Option A B. Option B C. Option C D. Option D
Nikeya sells land (adjusted basis of $120,000) to her adult son, Shamed, for its appraised value of $95,000 . Which of the following statements is correct?
a. Nikeya's recognized loss is $25,000 ($95,000 amount realized – $120,000 adjusted basis). b. Shamed's adjusted basis for the land is $120,000 ($95,000 cost + $25,000 disallowed loss for Nikeya). c. If Shamed subsequently sells the land for $112,000, he has no recognized gain or loss. d. Only a. and b. are correct. e. a., b., and c. are correct.