Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck) did not start with a/an:
a. lot of money
b. need for independence
c. great idea
d. great team
e. original idea
c
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Which of the following is not a reason why group or team members typically enforce norms?
A. to clarify role expectations B. to help the group survive C. to create a written document of behavioral guidelines for new employees D. to emphasize the group's important values E. to help individuals avoid embarrassing situations
Which of the following controls is not a typical internal control over fixed assets?
a. Reconcile physical inventory with the property ledger. b. Periodically reassess the appropriateness of depletion categories. c. Identify obsolete or scrapped equipment and write it down to scrap value. d. Periodically review management strategy and systematically assess the impairment of assets.
A salt mine you inherited will pay you $25,000 per year for 25 years, with the first payment being made today. If you think a fair return on the mine is 7.5%, how much should you ask for it if you decide to sell it?
A. $284,595 B. $299,574 C. $314,553 D. $330,281 E. $346,795
Which of the following may be deducted in computing income from unrelated business activities?
A. Charitable contributions. B. $1,000 special deduction. C. Ordinary and necessary business expenses. D. All of the above.