A sub-agency relationship is a breach of fiduciary duty
Indicate whether the statement is true or false
False
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Which of the following statements is true about the Federal Arbitration Act (FAA) of 1925?
A) The FAA restricts parties from obtaining a court order to compel arbitration with an arbitration agreement. B) The FAA restricts federal courts from hearing issues of law that have been decided by an arbitrator. C) The FAA provides that arbitration agreements involving commerce are revocable contracts under ordinary circumstances. D) Breach of contract cases and tort claims are not candidates for arbitration as per the FAA.
Charmed Power Inc. is working on a fast battery-recharging system that is still under development and has yet to be approved. Charmed Power's product is an example of a(n) ________ technology.
A) base B) key C) emerging D) improved E) pacing
Franklin Company issued a $40,000 note to the Mercantile Bank on August 1, Year 1. The note carried a one-year term and a 12% rate of interest. How will the adjustment, dated December 31, Year 1, to record accrued interest expense impact the elements of the financial statements?
A. Decrease assets and decrease retained earnings by $2,000 B. Increase liabilities and decrease equity by $2,000 C. Decrease equity and increase liabilities by $4,800 D. Increase liabilities and decrease equity by $1,600
If the principal reason for a taxpayer's presence in an institution (e.g., a nursing home) is the need and availability of medical care, the entire cost of lodging and meals is considered qualified medical expenditures.
Answer the following statement true (T) or false (F)