A full endorsement on a check:

A) is the same as a blank endorsement.
B) can be endorsed only by the person or company named in the original endorsement.
C) is the safest endorsement for businesses.
D) does none of the above.

Answer: B

Business

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Using the LIFO method of inventory valuation will always produce the same results whether a company uses perpetual or periodic inventory costing methods

Indicate whether the statement is true or false

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In which of the following situations would an IRS Section 1031 exchange not be allowed:

A: The properties are not of a like kind; B: The exchanged properties are both vacant land; C: One of the properties is a leasehold over 30 years; D: One property is in California and the other is in Arizona.

Business