Truel false questions
1. the majority of small business firms are successful at the end of ten yeas.
2. for a business to be organized, it must combine four types of resources. workers, natural resource,
ownership
3. the equilibrium price means that the supply and demand for a product are in bance.
4. under communism, individual consumers determine what will be produced
5. hewlett-packard corporation and dell computer use product differentiation in the markeplass.
6. if a firm's sales revenues exceed its expenses, the firm has earned a profit.
7. fiscal policy determines the level of interest rates.
8. the ultimate objectives of business firms should be to satisfy the needs of their customers.
9. adam smith is the father of communism and advocated a classless society.
10. a business cycle consists of four states: peak, recession, trough, and recovery.

Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?