Closing costs are always the sole responsibility of the buyer
Indicate whether the statement is true or false
F
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Manufacturers may prefer to sell their closeouts, canceled orders, and out-of-season merchandise to factory outlets rather than off-price chains because _____
a. off-price chains can generate high profit margins b. off-price chains have too much power c. factory outlets generate low short-term cash flow d. greater control results in less disturbance to traditional channels
Identify a true statement about the GAP model
A) It defines quality system standards based on the premise that certain generic characteristics of management practices can be standardized. B) Minimizing gaps 4 and 5 will result in low customer satisfaction. C) Failure to understand and minimize gaps presents the risk of losing customer loyalty. D) It eliminates causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers.
A ________ agreement normally states the exact conditions and procedures for the purchase of an account.
A) factoring B) pledging accounts receivable C) revolving credit D) line of credit
[Nail Salon] Thea and her friends Josef and Danny, all U.S. citizens, want to open a nail salon. They would all like to avoid personal liability for debts of the business and/or wrongful acts of each other. They would also like to minimize taxation. Thea is in favor of a corporation and asks if there is any problem with that form of business. Josef and Danny say that they are concerned about double taxation with a corporation and that they are in favor of a partnership, even if personal liability is a concern. Thea said that she was concerned about the deductibility of losses if the corporate form was chosen. She did some research and suggested an S corporation to Josef and Danny which she claimed would avoid the problem of double taxation.In regard to losses, what type of tax treatment
would an S corporation provide? A. Losses may only be deducted from the S corporation's taxes, not the shareholders' personal income. B. Losses may only be deducted from shareholders' personal income when the S corporation has shown a profit for at least two years. C. Losses may only be deducted from shareholders' personal income when the shareholder's gains from other endeavors exceed losses from the S corporation. D. Shareholders may deduct corporate losses from their personal income. E. Losses may only be deducted from shareholders' personal income when the S corporation has shown a profit for at least three straight years.