Which of the following statements regarding the calculation of regular tax liability is false?
A. The rate schedule for calculating regular tax liability depends on the taxpayer's filing status.
B. The individual tax rate schedules are adjusted annually for inflation.
C. All taxpayer, regardless of the amount of their taxable income, pay a 10% tax on their first bracket of income.
D. All of the tax brackets in the single rate schedule are one-half of the brackets in the married-filing-jointly rate schedule.
Answer: D
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When analyzing short-term business decisions, what are two important factors?
A) focus on costs that do not change under two alternatives and on historic costs B) focus on qualitative data only and ignore future cash flows C) focus on sunk costs and quantitative data D) focus on relevant costs and use the contribution margin approach
Which ethical perspective argues that decisions should be based on what does the most good for the greatest number of people?
A. categorical imperative B. confucianism C. utilitarianism D. altruism
Which of the following vision statements is most likely to produce a sustainable competitive advantage for an auto dealership?
A. to sell only the highest-rated luxury vehicles B. to open dealerships all across the country. C. to generate the highest revenues of any dealership in the region D. to help our customers find the perfect car for their individual needs.
In Erichsen v. No-Frills Supermarkets, a woman who was shopping was seriously injured by a robber in the parking lot. She sued the store claiming that its failure to provide adequate security was a breach of its duty to her. The Nebraska high court held that the store could:
a. be sued for negligence b. be sued for strict liability for failure to protect a patron c. have been liable if the incident occurred in the store, but not out in the parking lot d. not be liable as the incident was a random, uncommon event e. none of the other choices