Under the 2005 Act:
a. tax-exempt retirement accounts are included in the bankruptcy estate.
b. a debtor's state exemptions are governed by the law of the state where the debtor was domiciled for 730 days immediately before filing.
c. homestead exemptions are determined by state laws.
d. exempt property cannot be reached for the debtor's obligations, including domestic support obligations.
b
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John recently received his CPA license and plans to run a small tax consulting business, so he just put up a website. What advantage does his business have over larger competitors?
A. It has greater access to capital. B. It has superior distribution. C. It has more access to young talent. D. It can change direction quicker. E. It has well-defined bureaucratic systems.
When it comes to losses from fraud,
a. the highest losses are from employees under 40 years of age b. women tend to commit more frauds then men. c. higher education levels mean higher losses from fraud d. all of the above
According to the AICPA, the auditor needs to form an opinion on the financial statements based on an evaluation of the audit evidence obtained. This is stated in which AICPA principle governing an audit conducted in accordance with GAAS?
a. Principle 1 b. Principle 4 c. Principle 5 d. Principle 7
A manufacturing company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Accounts Payable can be taken from the ________.
A) production budget and cost of goods sold budget B) financial budget C) cash budget D) selling and administrative expenses budget