Most business people prefer making oral contracts regarding matters of great importance
Indicate whether the statement is true or false
False
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Which of the following statements appropriately describe the different effects of operating loss carrybacks and carryforwards?
A) ?operating loss carrybacks result in a current asset and operating loss carryforwards result in a deferred tax asset. B) ?operating loss carrybacks result in a retrospective asset and operating loss carryforwards result in a prospective asset. C) ?operating loss carrybacks result in a deferred tax asset and operating loss carryforwards result in a deferred tax liability. D) ?operating loss carrybacks result in a deferred tax liability and operating loss carryforwards result in a deferred tax asset.
Tax-deferred retirement plans
A) are generally preferred for most individuals because they accumulate returns at a pre-tax rate. B) are no better than non-tax-deferred plans, because the taxes must eventually be paid. C) are generally preferred because they are safer, having received IRS approval. D) are only tax advantageous for those at the highest marginal tax bracket.
Appellate judges can reverse a decision of the trial court:
a. where any error below is found. b. only where there was a prejudicial error that substantially affected the appellant's rights and duties. c. only where the outcome of the case is clearly wrong. d. where the losing party desires a new trial.
Under OSHA, random inspections are permitted if: A) announced
B) a warrant is obtained. C) there has been a complaint. D) None of the above