Tax liability is created upon the sale of asset

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Reference no: EM132202212

1. In managing cash and marketable securities, what should be the manager's primary concern?

a. Maximization of profit

b. Maximization of liquid assets

c. Acceptable return on investment

d. Liquidity and safety

2. A tax liability is created upon the sale of an asset whenever:

a. the firm is profitable

b. the asset has been partially depreciated.

c. the asset's market value exceeds its book value

d. None of the above are correct

3. A tax liability is created upon the sale of an asset whenever:

a. the firm is profitable

b. the asset has been partially depreciated.

c. the asset's market value exceeds its book value

d. None of the above are correct

Reference no: EM132202212

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