Equipment purchased on the last day of a company's fiscal year for a total cost of $10,000 is in a capital asset class that has a 10% per annual depreciation rate allowed for tax purposes. In the year of acquisition of this asset, the allowable tax deduction will be:

A) $10,000.
B) $1,000.
C) $0.
D) $500.

If a company's operating cycle is much longer than its average payment period for suppliers, it creates the need to borrow money to fund its inventories and accounts receivable.

The accumulated depreciation account is closed to the retained earnings account.

The luxury auto limits on depreciation must be reduced if business use is less than 100%.

Throughout the day,Kelly checks her Twitter page and sees stories and videos that she finds interesting.Which of the following has collected and delivered these stories?

A) media database
B) news aggregator
C) media platform
D) digital news outlet

After a patent is issued, there is a nine-month limit before it can be challenged.