Does forgiveness of a loan repayment by the lender represent income to the borrower?
What will be an ideal response?
Yes, the borrower must report income. The debt forgiveness must be reported in income in the year it is forgiven because the taxpayer is relieved of the obligation to repay the debt. As a result, the taxpayer receives an economic benefit that must be reported in income.
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The issuance of stock decreases a company's assets and increases its stockholders' equity
a. True b. False Indicate whether the statement is true or false
The primary victim of a workers' compensation fraud is ______
a. the government b. the employer c. the vendor d. the insurance carrier
Accu-Tech, a small company in a tightly-contested market, discovers that sales reps of the firm's main competitor, Compu-World, have been making untrue and unfair oral statements about Accu-Tech products and services
Which term best describes the actions of Compu-World sales reps? A) business libel B) business slander C) product liability D) product disparagement E) organizational reciprocity
Which of the following dispatching rules ignore due dates?
A) shortest processing time B) earliest operation due date C) first come, first served D) A and B above both ignore due dates. E) A and C above both ignore due dates.