Even though federal law mandates that workers and firms each pay half of the total fica tax, the tax burden may not fall equally on workers and firms.

a. true

b. false

A plant asset was purchased on January 1 for $54000 with an estimated salvage value of $6000 at the end of its useful life.

When there are intercompany sales of inventory during the year and a three-part consolidation worksheet is prepared, consolidation entries related to the intercompany sales:I. Always are needed. II.

1) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold.

Firms in every market structure: make long-run economic profits. are in competition with many other firms. leave the market as soon as they experience loss of profits. will attempt to maximize profits. face a horizontal demand curve. a. true b.

Shepherd Corporation had earnings and profits of $500,000 before distributions. Due to economic conditions, Shepherd, in partial liquidation, distributed land having an adjusted basis of $67,500 and a fair market value of $75,000 to Ms.

If an investor anticipates an annual rental income from a leased property to be $400,000 dollars, this expected sum has a direct bearing on what the investor will pay for the property. This is an example of

In comparison to industry averages, Okra Corp. has a low inventory turnover, a high current ratio, and an average quick ratio. Which of the following would be the most reasonable inference about Okra Corp.? A. Its current liabilities are too low. B.

The individual with the highest valuation of the good will win in which of the following auctions? A. Sealed Bid Auction B. English Auction C. Dutch Auction D. All of the above.

Explain how banks can create money.

A city acquires a 10-foot strip of a property owner's land for a public walking trail. the owner's home is not affected and she is able to use the land. is the homeowner eligible for compensation?