Which of the following would not be classified as a separately stated item?
A. Charitable contributions.
B. MACRS depreciation expense.
C. Guaranteed payments.
D. Short-term capital gains.
Answer: B
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A massive collection of data from a variety of sources is referred to as
A) tag clouds. B) big data. C) data visualization. D) infographics. E) parallelism.
Income tax allocation is necessary because tax rates differ at different levels of income
Indicate whether the statement is true or false
Which of the following is true of state administrative agencies?
A) They are created by federal administrative agencies. B) They act as advisory boards for the president. C) Their decisions can be appealed to a state court. D) They are not empowered to enforce statutes.
Main Manufacturing Corporation reported consolidated revenues of $50,000,000 on its income statement for 20X8. The management of the corporation identified 3 industry segments, M, N, and O. These segments had the following intersegment sales and transfers during 20X8: OperatingSegmentIntersegment Salesand TransfersM $2,000,000 N $2,400,000 O $3,000,000 For Main Manufacturing Corporation, the revenue test would be satisfied if any of its industry segments had revenue equal to or greater than which of the following?
A. $5,740,000 B. $5,000,000 C. $7,400,000 D. $4,260,000