Characteristics of a corporation include

a. stockholders having unlimited liability.

b. direct management by the stockholders.

c. stockholders having limited liability.

d. stockholders choosing a board of directors.

Which of the following is not deductible in 2018? a. Expenses incurred associated with investments in stocks and bonds. b. Moving expenses in excess of reimbursement. c. Tax return preparation fees of an individual. d.

Quirch Inc. manufactures machine parts for aircraft engines. The CEO, Chucky Valters, was considering an offer from a subcontractor who would provide 2,400 units of product PQ107 for Valters for a price of $150,000.

The World Trade Organization (WTO) has an important role in international trade. From the list, select all statements about the WTO that are true. It is possible that more than one statement is true. A. The WTO attempts to minimize barriers to trade.

1. Spending plans are decisions about how you spend your allowance. True / False

Prior period adjustments are reported as a. An unusual item in the income statement b. An addition to (or deduction from) net income in the income statement c. An addition to (or a deduction from) the beginning balance of retained earnings

Which of the following is not one of the steps for recognizing revenue? Identify the performance obligations of the contract. Identify the contract with the customer.

Panther Co. had a quality-assurance warranty liability of $359,000 at the beginning of 2018 and $308,000 at the end of 2018. Warranty expense is based on 3% of sales, which were $44 million for the year.

An amortized loan: Multiple Choice requires the principal amount to be repaid in even increments over the life of the loan. may have equal or increasing amounts applied to the principal from each loan payment.

Why is it easier for a partnership to borrow money than a sole proprietorship?

Modern corporation operates a steel mill. it has never contributed anything to the local community, and it knowingly pollutes both the air and the river that runs by its mill.