Acct324 Study guides, Class notes & Summaries

ACCT324 Final Exam Study Guide

ACCT324 EXAM REVIEW

ACCT 324 Connect Questions (Prof Hughes) Chapters 1-3 &13-20/ REVIEW QUESTIONS/ACCT 324 Connect Questions (Prof Hughes) Chapters 1-3 &13-20/ REVIEW QUESTIONS. Business law consists of _____ that govern commercial relationships.

ACCT 324 Week 4 Midterm 1. (TCO 9) Trent files his tax return 35 days after the due date. Along with the return, Trent remits a check for $8,000, which is the balance of the tax owed. 2. (TCO 9) A characteristic of fraud penalties is 3. (TCO 1) Federal tax legislation generally originates in what body? 4. (TCO 1) In § 212(1), the number (1) stands for the: 5. (TCO 11) Kyle, whose wife died in December 2009, filed a joint tax return for 2009. He did NOT remarry, but has continued to maintain his...

ACCT324 Final Study Guide

ACCT 324 Connect Questions Chapters 1-3 and 13-20 with Answers (Professor Hughes)/ACCT 324 Connect Questions Chapters 1-3 and 13-20 with Answers (Professor Hughes)/ACCT 324 Connect Questions Chapters 1-3 and 13-20 with Answers (Professor Hughes)

Question Question 1.1. (TCO 2) On June 30, 20X2, Jill, a cash basis taxpayer, gave Tina a bond with a $25,000 face amount that pays $2,500 interest each December 31. When Tina collected the interest on December 31, 20X2, _____. (Points : 2) Jill must include all of the interest in her gross income Tina must include all of the interest in her gross income Jill must report $1,250 interest income, and Tina must report $1,250 interest income Jill must recognize $1,250 of interest income at the time ...

Question Question 1.1. (TCO 1) Which, if any, of the following would tend to decrease the ad valorem tax on real estate? (Points : 2) An abandoned church building is sold to a restaurant chain. A tax holiday issued to a manufacturing plant expires. An office building is converted into condominium units to be sold to senior citizens. A portion of a city park is sold to a car dealership. None of the above Question 2.2. (TCO 1) Characteristics of a national sales tax include which of the following?...

Question Question 1.1. (TCO 2) On June 30, 20X2, Jill, a cash basis taxpayer, gave Tina a bond with a $25,000 face amount that pays $2,500 interest each December 31. When Tina collected the interest on December 31, 20X2, _____. (Points : 2) Jill must include all of the interest in her gross income Tina must include all of the interest in her gross income Jill must report $1,250 interest income, and Tina must report $1,250 interest income Jill must recognize $1,250 of interest income at the time ...

Question Question 1.1. (TCO 1) Which, if any, of the following would tend to decrease the ad valorem tax on real estate? (Points : 2) An abandoned church building is sold to a restaurant chain. A tax holiday issued to a manufacturing plant expires. An office building is converted into condominium units to be sold to senior citizens. A portion of a city park is sold to a car dealership. None of the above Question 2.2. (TCO 1) Characteristics of a national sales tax include which of the following?...