The fact that price fixing helps consumers or protects competitors from ruinous competition can be used as a valid defense against the charge of price discrimination

Rikart Real Estate has a $2,000,000 installment accounts receivable. Rikart recognizes income for tax purposes when cash is collected, and pays tax at a rate of 35%. Rikart's balance sheet should include a deferred tax liability of:

a. $2,000,000. b. $700,000. c. $0.

Governments that are temporarily short of cash but that have levied taxes expected to be collectible during the fiscal year are generally able to borrow on short-term notes known as "tax anticipation notes payable".

a. true b. false