Express warranties cannot be disclaimed
Indicate whether the statement is true or false
True
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A bond issue price is the present value of the cash flows that the bond will produce
a. True b. False Indicate whether the statement is true or false
The Engine Division of Magnificent Motor Corporation uses 5,000 carburetors per month in its production of automotive engines. It presently buys all of the carburetors it needs from two outside suppliers at an average cost of $100 . The Carburetor Division of Magnificent Motor Corporation manufactures the exact type of carburetor that the Engine Division requires. The Carburetor Division is
presently operating at its capacity of 15,000 units per month and sells all of its output to a foreign car manufacturer at $106 per unit. Its cost structure (on 15,000 units) is: Variable production costs $70 Variable selling costs 10 All fixed costs 10 Assume that the Carburetor Division would not incur any variable selling costs on units that are transferred internally. Refer to Magnificent Motor Corporation. What is the minimum of the transfer price range for a transfer between the two divisions? a. $96 b. $90 c. $70 d. $106
Estimated cash payments are planned reductions in cash from all of the following except:
A) manufacturing and operating expenses B) capital expenditures C) notes and accounts receivable collections D) payments for interest or dividends
A taxpayer who sells a principal residence that has been used as a rental property after 2005 will not be allowed to exclude the portion of the gain attributable to depreciation even if the taxpayer meets the ownership and use tests and the gain realized on the sale is lower than the maximum exclusion amount.
Answer the following statement true (T) or false (F)