Explain the concept of double taxation in a corporate setting
The corporation's profits are taxed as income at the corporate level for the first tax event. If the company pays dividends to its shareholders, the shareholders have to recognize the dividends as ordinary income on their personal income tax returns; this results in the second taxation of the same money.
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After building awareness, the next stage in the development of a partnership is:
A. commitment. B. recognition. C. expansion. D. exploration. E. insight.
When using the BCG matrix, a business that currently holds a large market share in a rapidly growing market and that has minimal or negative cash flow is described as a:
A. cow. B. problem child. C. star. D. dog.
Van is using his wrench as a hammer when the wrench breaks and a piece flies off, injuring his neighbor who is helping Van change a tire on Van's car. If Van sues the tool manufacturer, its best defense will be:
a. consent. b. warranties have been disclaimed. c. product misuse. d. that the claim is an economic loss only.
Nori files a suit against Mica to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds. The court could enforce such a contract if
A. Nori foreseeably and justifiably relied on Mica's promise to her detriment. B. Mica denies the existence of any contract. C. neither party has begun to perform. D. the deal does not involve customized goods.