When translated, caveat emptor means "let the buyer beware."
Answer the following statement true (T) or false (F)
True
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A trust for the dissemination of a particular political doctrine cannot be a charitable trust
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. If a medical expense reimbursement is received in a year after a deduction has been taken on a previous year's return, the previous year's return must be amended to eliminate the reimbursed expense. 2. Assessments or fees imposed by the government for specific privileges or services are not deductible as taxes. 3. Foreign real property taxes and foreign income taxes are not deductible as itemized deductions. 4. A personal property tax based on the weight of the property is deductible. 5. Assessments made against real estate for the purpose of funding new street lights are not deductible in the year paid but rather should be added to the cost basis of the property.
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Indicate whether the statement is true or false
Which of the following ratios is determined by dividing total liabilities by total assets?
A. Debt to assets ratio B. Gross margin ratio C. Return on assets ratio D. Debt to equity ratio