$40-$ Direct labor costs include?

a$.$ Basic compensation

b$.$ Vacation pay

c$.$ Unemployment benefits

d$.$ All of the above

$42-$A taxpayer may determine the costs to be included in ending inventory under any of the following cost flow assumptions$/$methods$,$ except :

a$.$ Lower of cost or market

b$.$ Specific identification

c$.$ First$-$in$,$ first$-$out

d$.$ Last$-$in$,$ first$-$out

$43-$ The simplified resale method requires which of the following indirect costs to be capitalized?

a$.$ Marketing costs

b$.$ Off$-$site storage

c$.$ Purchased inventory

d$.$ All of the above

$44-$ ABC Corp. makes the following fixed asset acquisitions in $2018$:

$$ Office furniture on February $15$ for $$40,000$

$$ Copier on June $30$ for $$5,000$

$$ Improvements $($constituting real property$)$ to the office building on October $15$ for $$100,000$

$$ Machinery on December $1$ for $$25,000$

Assuming ABC does not make a $179$ election with respect to any of its acquisitions and the ADS method is not used, which of the following statements is true:

a$.$ The mid$-$quarter convention is not applicable

b$.$ All acquisitions will use the half$-$year convention

c$.$ All depreciation will be calculated using the double declining balance method

d$.$ AAll acquisitions will use the mid$-$month convention.

$45-$ Woodsboro Corp. purchases a parcel of land $($the unit of property$)$ without realizing that the soil was contaminated by leaking underground storage tanks left by a previous owner. Under the repair and capitalization regulations, Woodsboro's remediation costs to remove the contaminants and ameliorate a material condition or defect that existed prior to its acquisition of the land are:

a$.$ Deducted as a current expense

b$.$ Capitalized as a betterment of the property

c$.$ Amortizable as $197$ intangible asset

d$.$ None of the above

$46-$ The imputed interest rules of $7872$ explicitly apply to all of the following types of loans except:

a$.$ Gift loans

b$.$ Corporation shareholder loans

c$.$ Notes related to sales of property

d$.$ Compensation related loans