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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. $0 | $0.
B. $50,000 | $0.
C. $0 | $50,000.
Answer: A
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, because it is the rider who has to take care of the brakes
B. Any of the above
C. No, since a disclaimer by the owner has already been intimated
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 Alerts
B. Manage Processes
C. My Processes
D. Manage Policies
Answer: B