Which of the following is deductible as interest expense?
A) personal credit card interest
B) interest to purchase tax-exempt bonds
C) bank service charges on personal account
D) None of the above.
D) None of the above.
The tax law does not allow deductions for interest paid on borrowing that relates to personal assets, other than the qualifying residence. In addition, the tax law does not allow deductions for interest expense on borrowing to acquire or maintain tax exempt income.
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A partnership began on January 1, 2020, with two partners Mary Snow and Scott Lucas. Mary contributed $53,000 cash and Scott contributed equipment with a fair market value of $33,000. The partners share profits and losses 60:40, with Mary receiving 60%. Partners' withdrawals were $11,000 by Mary and $5500 by Scott. Net income for 2020 was $54,000. What is the balance in Mary's capital account at December 31, 2020?
A) $74,400 B) $21,400 C) $53,000 D) $32,400
The validation method that shows a strong relationship between the score on a test and performance on the job is:
A. Low-level validity B. Criterion-related validity C. Content validity D. High-level validity E. Construct validity
Workers' compensation insurance does not cover stress and mental illness that are employment related
Indicate whether the statement is true or false
A police officer may arrest a person based on ____________________, the reasonable belief that a crime has been committed
Fill in the blank(s) with correct word