For flow-through entities, such as partnerships how does the tax law use partner basis adjustments to prevent double taxation of partnership income?
A. income of the business is passed through to the owners, who pay the taxes on their individual income tax returns.
B. income of the business is passed through to the corporate, who pay the taxes on their individual income tax returns.
C. income of the business is passed through to the limited liability, who pay the taxes on their corporate income tax returns.
D. none of the above.
A. income of the business is passed through to the owners, who pay the taxes on their individual income tax returns. (So, the owners of these businesses are taxed directly, unlike a corporation that pays its own taxes.)
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The fraud triangle has three components. Which of the components must be present for a fraud to occur?
a. All factors must be present for fraud to occur. b. All factors need not be present. c. Fraud can occur if any one of the factors is present. d. None of the above
Which of the following is NOT the term used to describe the interface between push and pull systems?
a. the push–pull boundary b. the point where customization occurs c. the decoupling point d. the pull conflict
If there are many competing suppliers in a sector, should a prospective entrant prefer collaboration to competition? What factors should influence its decision?
What will be an ideal response?
Eleven republics of the former Soviet Union are members of the
A. Former Soviet Republics Trade Agreement. B. Organization of Petroleum Exporting Countries. C. Association of Asian Nations. D. European and Asian Economic Union. E. Commonwealth of Independent States.