For AGI deductions are commonly referred to as deductions "above the line."
Answer the following statement true (T) or false (F)
True
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A(n) ________ is a situation in which one corporation is absorbed into another corporation and ceases to exist
A) alliance B) merger C) share exchange D) coalition
June sales were $27,000, while projected sales for July and August were $51,000 and $69,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July
A) $36,600 B) $41,400 C) $10,800 D) $30,600
Locating prospects, educating customers, and building goodwill are functions performed by inside salespeople.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
1. If a nonprofit fails to send a donor a receipt for a gift of $250, the donor can still take a tax deduction but the nonprofit may be subject to a fine. 2. All ethical codes require that a nonprofit never accept a gift from a donor who has been convicted of a crime. 3. Some nonprofits include a clause in gift agreements saying what might happen if the donor is later convicted of a crime. 4. The Health Insurance Portability and Accountability Act of 1996 (HIPPA) affects what information can be shared with development officers in some institutions. 5. If a donor makes a gift of property (a gift-in-kind) worth $500 or more, it is entirely up to the donor whether or not to obtain an appraisal and the organization does not have to be involved.