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NEW QUESTION: 1
A firm made donations of $50,000 this year. The donations were expensed for financial reporting purposes but not allowed so for tax purposes. The tax base and carrying amount of this item are:
A. $50,000 | $0.
B. $0 | $0.
C. $0 | $50,000.
Answer: B
Explanation:
Since the amount was expensed so the carrying amount is $0. The tax base of the donations is also $0 since the donations are not tax deductible. Notice this represents a permanent difference which will not be reversed in future.

NEW QUESTION: 2
A hired a bicycle from B. The written contract contained a clause which read "Nothing in this agreement shall render the owner liable for any personal injuries to the rider of the machine hired". Owing to a defect in the brakes of the cycle, A met with an accident and got injured. Can A recover Damages?
A. No, since a disclaimer by the owner has already been intimated
B. No, because it is the rider who has to take care of the brakes
C. Any of the above
D. Yes, because he is under the duty to take care of the bicycle
Answer: D

NEW QUESTION: 3
Which Payroll Control Center user interface is used to add a new team administrator to a process?
Please choose the correct answer.
Response:
A. My Processes
B. Manage Policies
C. My Alerts
D. Manage Processes
Answer: D