Which is an example of a cultural artifact?
a) Clothes
b) Values
c) Feelings
d) All of the above
a) Clothes
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An importer of computers is required to pay a duty to the government of $100 per computer regardless of the price of the computer. Which type of tariff is described in this example?
a. tariff quota b. compound tariff c. specific tariff d. ad valorem tariff
The buyer's information handbook: A)?Contains a lay explanation of charges and the Uniform Settlement Statement
B)?Must be printed by the CFPB. C)?Need not be given in home equity loans. D)?All of the above
Many people purchase a product because they have an advertiser rebate, but they often never actually claim the rebate, a phenomenon known as slippage.
Answer the following statement true (T) or false (F)
Patrick purchased a one-third interest in the PPP partnership for $600,000. At the time of the purchase, the partnership had a 754 election in effect and its only asset was land with a basis of $1,500,000. This year, PPP sells the land for $1,800,000. What is Patrick's recognized share of the gain on the sale of the land?
A) $0 B) $100,000 C) $300,000 D) none of the above