Many individuals have suggested setting up the following trust as a method for avoiding probate costs while still retaining control of your assets when alive
A)
a revocable living trust.
B)
a revocable testamentary trust.
C)
an irrevocable living trust.
D)
an irrevocable testamentary trust.
A
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Exhibit 14-7 Magenta Corporation issued $500,000 of its 6%, 10-year bonds, dated January 1, 2016, at face value plus accrued interest on September 1, 2016. Interest is paid on June 30 and December 31. Magenta uses the most common method to record the sale of the bonds between interest payment periods. ?Refer to Exhibit 14-7. The entry to record the payment of interest on December, 2016, would
include a A) ?debit to Bond Interest Payable for $5,000. B) ?debit to Bond Interest Expense for $15,000. C) ?credit to Cash for $10,000. D) ?credit to Cash for $5,000.
Under the IMA's standards of ethical practice, an accounting professional can consider informing authorities or individuals not employed by the organization when an ethical dilemma occurs about an accounting or financial reporting matter that remains unresolved if he/she:
A. Informs the external auditors who tell him/her to inform the appropriate authorities B. Believes there has been an ethical violation C. Believes there is a clear violation of the law D. Contacts his/her immediate superior who says to forget about the matter
What crimes do not require mens rea?
A) felonies B) strict liability crimes C) street crimes D) petty crimes
________ is the process in which different individuals and units perform different tasks.
A. Standardization B. Span of control C. Mutual adjustment D. Specialization E. Formalization