单项选择题

When securities are sold and the securities were purchased on different dates and at different prices.（）
I.the basis of the shares may be determined on a first-in，first-out basis.
II.the basis of the shares may be determined on a last-in，first-out basis.

A.Only statement I is correct
B.Only statement II is correct
C.Both statements are correct
D.Neither statement is correct

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单项选择题

Milroy Company earnings before interest，taxes，depreciation，depletion and amortization is $2，000，000in 2018.Milroy’s gross receipts have always exceeded $40，000，000.Milroy’s interest expense is $800，000.Which of the follow is correct？（）

A.Milroy can deduct $800，000of interest expense
B.Milroy can deduct $600，000of interest expense and can carry forward the remaining $200，000indefinitely
C.Milroy can deduct $600，000of interest expense and the remaining $200，000can not be carried forward
D.Milroy can deduct $600，000of interest expense and can carry back the remaining $200，0003years
E.Milroy cannot deduct any interest expense

单项选择题

Under the deferral method of accounting for advance receipt of revenues，which of the following statements is/are correct？（）
I.Receipts of service revenue colleted in advance are included in gross income in the current year to the extent they included in revenue for financial accounting purposes.
II.Receipts of rents and interest collected in advance are included in gross income in the current year to the extent they are included in revenue for financial accounting purposes.

A.Only statement I is correct
B.Only statement II is correct
C.Both statements are correct
D.Neither statement is correct.

When securities are sold and the securities were purchased on different dates and at different prices.（） I.the basis of the shares may be determined on a first-in，first-out basis. II.the basis of the shares may be determined on a last-in，first-out basis.

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Milroy Company earnings before interest，taxes，depreciation，depletion and amortization is $2，000，000in 2018.Milroy’s gross receipts have always exceeded $40，000，000.Milroy’s interest expense is $800，000.Which of the follow is correct？（）

When securities are sold and the securities were purchased on different dates and at different prices.（）
I.the basis of the shares may be determined on a first-in，first-out basis.
II.the basis of the shares may be determined on a last-in，first-out basis.