Which of the following is true of a partnership and a corporation?
A) In a corporation, income is taxed at the corporate level; whereas, in a partnership, income is taxed twice.
B) In a partnership, income is taxed at the corporate level; whereas, in a corporation, income is taxed twice.
C) Income from both forms of organizations are double-taxed.
D) In a partnership, income is exempted from tax up to $10 million; whereas, in a corporation, income is taxed twice.
B
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A computer is being depreciated at 40% using the reducing balance method. If it cost £3,500 in
year 1, what will the net book value be at the end of year 2? a) £700 b) £1,260 c) £1,400 d) £2,100
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Epidemiological studies:
a) have high statistical power. b) are totally reliable and valid. c) do not measure human deaths. d) measure real human illness.
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