Which of the following is NOT an ADVANTAGE of a partnership?
A) A potential increase in available capital over a sole proprietorship
B) The commingling with the general partner's personal assets
C) The potential for more talent and skills in the business
D) All are advantages of a partnership.
Answer: B
Explanation: B) This is considered a disadvantage of a partnership.
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Each of the following can result in a temporary difference between pretax financial income and taxable income except
A) depreciation expense. B) product warranty costs. C) percentage depletion in excess of cost depletion on wasting assets. D) contingent liabilities.
Which of the following examples constitutes embezzlement?
a. A cashier overcharges employees for their purchases and pockets the extra money. b. A bank teller pockets a few dollars from the drawer during each shift worked. c. A real estate agent omits underreports commissions on tax returns to owe less in taxes. d. A company donates large amounts of cash to various charities to reduce tax obligation.
What does the chaplain position have that neither the ECO nor ombudsperson positions possess?
a. a religious component b. a promise of confidentiality c. an assurance of anonymity d. an ethical component
The area set aside for merchandise displays, interactions between sales personnel and customers, and demonstrations is _____ space
a. customer b. merchandise c. personnel d. selling