Which of the following is not a cause of inventory shrinkage?
a. markdowns due to stale merchandise
b. theft by employees
c. shoplifting by consumers
d. administrative errors by vendors (such as short weighing)
a
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Janet, the insured, dies during a grace period for her $50,000 life policy. What happens, considering that her premium has not been paid?
A) The premium due, plus a 10% penalty, is charged against the policy. B) The amount of the premium due is deducted from the policy proceeds paid to the beneficiary. C) The beneficiary must pay the premium after the death claim is paid. D) The premium is canceled because the insured died during the grace period."
The 50% limit on deductibility of business-related expenses applies to which of the following?
a. Meals and entertainment while traveling away from home on business. b. Employee's reimbursed expenses. c. Entertaining customers at your place of business. d. Meals and entertainment while traveling away from home on business and entertaining customers at your place of business.