SOAP stands for

(a) Simple Object Access Protocol.
(b) Schema Object and Accessibility Protocol.
(c) Standards for Object and Attribute Properties.
(d) None of the above.

Ans: (a)

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Which of the following is not a true statement about Objectivism?

A. Its critics label the decision rule overly judgmental and individualistic. B. The advancement of rational self-interest under the decision rule always and necessarily comes at the expense of the interests of others. C. The decision rule focuses on the decision-maker developing into the best, most enlightened person the decision-maker can be. D. The decision rule promotes free-market decision-making in business.

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Clyde operated a food distribution business. He leased a small warehouse in 2015 for $60,000 per year for a 3-year term. The lease was to start on July 1, 2015. Clyde paid the first 2 years' rent in advance in May 2015. Clyde then began to make monthly payments of $5,000 starting on July 1, 2017, and continuing on the first of the month for the balance of 2017. What rent expense may Clyde claim in 2017?

a. $60,000 b. $50,000 c. $30,000 d. None of the answers are correct

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