Tecktroniks Company Reported in Its Annual Report Software Refinement Expenses

question 40

Multiple Choice

Tecktroniks Company reported in its annual report software refinement expenses of $12 million, $15 million, and $18 million for fiscal years 2005, 2006, and 2007, respectively. At the end of fiscal 2007, it had total assets of $140 million. Net income was $20 million for fiscal 2007, and it had a marginal tax rate of 35%.
-If the software refinement had been capitalized and amortized over a three-year period beginning in the year the cost was incurred, but was expensed for tax purposes, the deferred tax position at the end of fiscal 2005 would have been:

• A)a deferred tax credit of $2.8 million.
• B)a deferred tax credit of $3.5 million.
• C)a deferred tax credit of $5.2 million.
• D)a deferred tax debit of $4 million.

Recognize the importance of training context, including physical and emotional elements.

Understand the application and benefits of on-the-job training and apprenticeships.

Appreciate the necessity of management support for successful training implementation.

Know the features and benefits of using learning management systems for training.

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Definitions:

Mass Production

The manufacturing of large quantities of standardized products, often on assembly lines, enabling efficiencies and lower costs of goods.

Trade Unions

Organizations formed by workers from related fields that work for the common interest of its members in terms of wages, work conditions, and benefits.

Late-Nineteenth Century

The late-nineteenth century is the period from 1871 to 1900, characterized by rapid industrialization, colonial expansion, and significant cultural and technological advancements.

Pablo Picasso

A Spanish painter, sculptor, printmaker, ceramicist, and stage designer, known as one of the most influential artists of the 20th century and a co-founder of the Cubist movement.