One reason indirect costs may be underapplied is if actual indirect costs are less than budgeted indirect costs

The only part that differs in a statement of cash flows prepared by the direct method from one prepared by the indirect method is the ________

A) financing activities section B) investing activities section C) operating activities section D) non-cash investing and financing activities section

Which of the following would qualify a person for an exemption when computing taxable income?

A) mortgage interest B) a tax shelter C) a dependent D) charitable contributions E) passive income