A company is uncertain whether a complex transaction should be recorded as gain or loss. Under the conservatism principle, it should choose to treat it a loss
Indicate whether the statement is true or false
TRUE
You might also like to view...
A SMART goal is one that is
A. specific, maintainable, affordable, realistic, and timely. B. specific, measurable, attainable, results-oriented, and has target dates. C. specific, maintainable, achievement-oriented, in real time, and timely. D. specific, measurable, affordable, realistic, and has target dates. E. specific, maintainable, aligned with other goals, realistic, and timely.
This question has two parts; be sure to answer both. First, name and describe at least four ways managers can reduce stressors that lead to employee burnout. Next, describe how you might use these techniques to cope with the following situation: You are the CEO of Tate & Stephens, a highly successful advertising firm located in New York City. Your agency represents major clients worth tens of millions of dollars each year. Because the stakes are so high, account executives and creative directors work 70 to 80 hours a week, and they are stressed out most of the time. You want to do something to help your workers remain productive and focused while helping to prevent burnout.
What will be an ideal response?
Jake purchased a $300,000 earthmover for his business. He sold the earthmover for $245,000 after taking $210,000 of depreciation. What is the nature and amount of the gain or loss on the sale?
A. $90,000 Section 1245 ordinary income and $65,000 Section 1231 gain. B. $55,000 Section 1245 ordinary income and $100,000 Section 1231 gain. C. $155,000 Section 1245 ordinary income. D. $155,000 Section 1231 gain.
The payment of taxes would be included in the operating activities section of the statement of cash flows
Indicate whether the statement is true or false