If a company complies with government regulations, it incurs implementation costs. When a company decides to agree and follow new regulations, it will have to implement them into their organization. By implementing them, they are making changes within their organizations processes and therefor having costs associated with the changes.
Answer: This form is used to report mortgage interest paid for the year. Also, lenders are required to issue Form 1098 when a homeowner has paid $600 or more in mortgage interest during the tax year.
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Answer:
B) False
Explanation:
Any multinational corporation must follow the laws that apply on the countries that they operate in. Regarding accounting practices, this is fairly simple, since most countries accept International Financial Reporting Standards (IFRS) rules. If the multinational corporation's headquarters are located in the US, the subsidiary will probably have to elaborate two different sets of financial records, one following the US GAAP and the other one following the IFRS guidelines. But that is optional, since the SEC is currently accepting financial statements using IFRS from American multinational corporations. Corporations that only do business in the US cannot use IFRS standards and must use GAAP, the option of using IFRS applies only to multinationals.
The FAFSA otherwise known as the Federal Application for Student Aid is a
way for college students to apply for financial aid (loans and grants)
from the federal government. You can complete the FAFSA either online or
submit through the mail (postal service). It is required that in order
to get aid for each year, you must fill out a new form each year.
Therefore, the answer is D.
