Under the entity concept, a partnership interest is an intangible asset similar to an ownership interest in a corporation. As such, a partnership interest is generally treated as a capital asset, the disposal of which results in capital gain or loss.
Answer the following statement true (T) or false (F)
True
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A fiscal year
A) ordinarily begins on the first day of a month and ends on the last day of the following twelfth month B) for a business is determined by the federal government C) always begins on January 1 and ends on December 31 of the same year D) should end at the height of the business's annual operating cycle
Simplicity is the main advantage of which of the following process costing methods?
A) weighted average B) FIFO C) LIFO D) Exact cost method
A group of students organizing a protest march demanding that the government be overthrown would be an instance of ________ speech
A) limited protected B) prohibited C) unprotected D) fully protected
What is a limitation to the employee survey approach that many organizations used to assess diversity and inclusion?
a. Most of the questions only have face value validity b. There are not enough questions use to get a true baseline c. Most people don’t understand the construct of ‘diversity’ in order to answer the question correctly d. They typically measure the observable differences but not the non-observable ones