The primary tax benefit of an income oil and gas program is:

A) tangible drilling costs.
B) depletion.
C) intangible drilling costs.
D) depreciation.

Answer: B) depletion.

Business

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Which of the following instruments would not be classified as a financial liability?

A. A preference share that will be redeemed by the issuer for a fixed amount of cash on a future date (i.e., the entity has an outstanding share that it will repurchase at a future date) B. A contract for the delivery of as many of the entity's ordinary shares as are equal in value to P 100,000 on a future date (i.e., the entity will issue a variable number of own shares in return for cash at a future date) C. A written call option that gives the holder the right to purchase a fixed number of the entity's ordinary shares in return for a fixed price (i.e., the entity would issue a fixed number of own shares in return for cash, if the option is exercised by the holder, at a future date) D. An issued perpetual debt instrument (i.e., a debt instrument for which interest will be paid for all eternity, but the principal will not be repaid)

Business

Using ethnocentrism when dealing with coworkers from other cultures is most appropriate in a U.S. based environment

Indicate whether the statement is true or false.

Business