Federal Unemployment Taxes Payable is typically shown on the balance sheet under the long-term liabilities section
Indicate whether the statement is true or false
FALSE
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The Garcias' house has a fair market value of $186,000 and rents for $1,200 per month. The house next door belongs to Yolanda and rents for $1,300 per month. Assuming the same rate of return, what is the fair market value of Yolanda's property?
A. $201,500 B. $187,300 C. $171,692 D. $155,000
The Financial Accounting Standards Board is:
A. Responsible for the review and audit of federal income tax returns. B. Primarily concerned with the preparation of the annual federal budget. C. A private group that conducts research and determines generally accepted accounting principles. D. A government agency with legal authority to approve or disapprove the financial statements of corporations that sell their securities to the public.