If an asset is sold above its book value, the selling company records a loss.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Zain retained Linda, an accountant, to prepare his federal income tax return. In the course of preparing the return, Linda had several conferences with Zain, during which she made notes. In addition, Zain furnished Linda with a number of documents concerning transactions in which Zain had been involved. The Internal Revenue Service (IRS) ultimately brought suit against Zain, claiming that he had underpaid his actual tax liability by a substantial amount. The IRS arranged for a subpoena to be served on Linda. The subpoena purported to require her to produce, in court, Zain's documents and the notes she had made during conversations with Zain. Linda sought to resist the order on the basis that the conversations were held in confidence, for the purpose of preparing Zain's tax return, and
that the notes were made and documents were delivered in furtherance of the same purpose. Linda claimed, therefore, that what the IRS sought was privileged information and that since neither she nor Zain had waived the privilege, she should not have to produce what the IRS sought. Is Linda's argument sound? Explain. What will be an ideal response?
Employers are never strictly liable to any of their employees who might have suffered sexual harassment at the workplace
Indicate whether the statement is true or false
If FedEx makes the mistake of assuming that foreign consumers participate in the same type of activities as those individuals in the United States and thus only offers the same products and services in the United States to these foreign consumers, then FedEx is making a mistake concerning
A. environmental scanning. B. consumer confidence. C. demographics. D. consumer ethnocentrism. E. cultural fit.
If Sara makes an interstate phone call to sell land that she does not own, Sara is guilty of
a. wire fraud. b. larceny. c. mail fraud. d. nothing. She merely thought of and executed a clever way to make money.