maxi Show more The goal of a business should be: Answer maximization of the owners%u2019 wealth maximization of accounting profit maximization of sales maximization of assets Corporate stockholders: Answer cannot have limited liability cannot easily transfer ownership cannot be subject to taxes on dividends can limit their liability to the amount of their investment Current liabilities would not include: Answer accounts payable notes payable bonds accruals On the income statement gross profit is defined as: Answer operating profits minus operating expenses gross profit minus operating expenses sales revenue minus cost of goods sold sales revenue minus operating expenses The depreciation method currently used for tax purposes today is called the: Answer accelerated cost recovery system (ACRS) straight line method (SLM) modified accelerated cost recovery system (MACRS) double digit balance (DDB) Show less
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