The sales tax laws of many states exempt the purchase of groceries and prescription drugs from tax. Such exemptions are intended to improve the:
A. Equity of the tax
B. Neutrality of the tax
C. Sufficiency of the tax
D. Convenience of the tax
Answer: A
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Palmon Industries owns an investment that experienced a decline during 2019 that has been judged to be "other than temporary". The investment is held in Palmon's available-for-sale debt securities portfolio, and Palmon expects to sell the impaired security before recovery of its amortized cost basis less current-period credit loss. The debt security was purchased in March 2018 at a cost of $460,000. At the end of 2018, the fair value of the investment was $520,000 and its amortized cost basis was $454,000. At the end of 2019, the fair value of the investment is $410,000 and its amortized cost is $448,000. What amount of loss will Palmon Industries report on its income statement for the year ending December 31, 2019 related to this investment?
A. an unrealized loss of $44,000. B. an unrealized loss of $50,000. C. an unrealized loss $110,000. D. an unrealized loss of $38,000.
A business process constrains business rules.
Answer the following statement true (T) or false (F)
All of the following are examples of standing plans, EXCEPT ______.
a. procedures b. budgets c. rules d. policies
Sandy noticed an unauthorized electronic funds withdrawal on her bank statement. In order for her to not be liable for the withdrawal, she must notify her bank within _______ of the date of the bank statement
a. 10 days b. 30 days c. 60 days d. 90 days