An example of a selectively rewarding tax system is
A) high marginal tax rates.
B) no tax on the sale of a personal residence.
C) taxing personal income, but not wealth.
D) a graduated sales tax rate.
Answer: B) no tax on the sale of a personal residence.
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Simkin Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: HoursWait time20.6Process time1.9Inspection time0.1Move time2.7Queue time4.8?The manufacturing cycle efficiency (MCE) was closest to:
A. 0.20 B. 0.06 C. 0.19 D. 0.46
The termination of an agency contract in violation of the terms of the agency contract is referred to as ________.
A. termination by an unusual change in circumstances B. termination by impossibility of performance C. termination by operation of law D. wrongful termination
Give your opinion on the ethics of businesses converting employees to independent contractors to reduce or eliminate costs, such as health and retirement benefits, vacations, overtime, and maintenance and proper insurance of motor vehicles
Jay has a tax basis of $14,000 in his partnership interest at the beginning of the partnership tax year. The following amounts of partnership debt were allocated to Jay and are included in his beginning-of-the-year tax basis: (1) recourse debt-$3,000, (2) qualified nonrecourse debt-$1,000, and (3) nonrecourse debt-$500. There were no changes to the debt allocated to Jay during the tax year. If Jay is allocated a $15,000 loss for the current year, how much of the loss will be suspended under the tax basis and at-risk limitations?
A. $500, $1,000. B. $1,000, $500. C. $14,000, $1,000. D. $0, $0.