For purposes of computing depreciation on the taxpayer's home for the home office deduction, the depreciable basis of the home is: (a) the taxpayer's adjusted basis in the home at the time it is converted to a home office. (b) the fair market value of the home at the beginning of the tax year. (c) the fair market value of the home at the time it is converted to a home office. the lesser of (a) or (c) the lesser of (a) or (b)

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

What are the weak points of economic costs that are part of a free enterprise economy?