With reference to #21, the HOA rules are:
A) An example of private law
B) An example of agency regulations.
C) Unconstitutional.
D) None of the above
A
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If the auto accident is your fault, damage to your car will
A) never be covered by your auto insurance. B) be reimbursed if you have collision coverage. C) be reimbursed if you have liability coverage. D) be reimbursed if you have uninsured motorist coverage.
The three components of an attitude are
A. confident, achievable, and believable. B. consistent, affordable, and particular. C. cognitive, affective, and behavioral. D. controlled, uncontrolled, and visible. E. connected, applicable, and bearable.
Prior to the Tax Cuts and Jobs Act, corporations faced a progressive tax rate schedule with rates ranging from 15% to 39%. Under that old tax law, a firm with taxable income of $100 million would have owed taxes of $35 million. Under the Tax Cuts and Jobs Act, the corporate tax rate is a flat 21%. For a firm that makes $100 million in taxable income, the size of the tax reduction that the firm
enjoys because of the new tax law is closest to ________. A) $18 million B) $21 million C) $14 million D) $35 million
On December 19, 2019, Logo Inc., an accrual basis corporation, accrued $50,000 compensation expense for a routine year-end bonus payable to Mr. Craig, who is Logo's CFO. Logo paid the $50,000 to Mr. Craig on April 25, 2020. Which of the following statements is true?
A. Regardless of whether Logo and Mr. Craig are related parties, Logo can't deduct the accrued compensation expense in 2019. B. If Mr. Craig and Logo are not related parties, Logo can deduct the accrued expense in 2019. C. If Mr. Craig and Logo are not related parties, Mr. Craig can elect to include the $50,000 bonus in gross income in either 2019 or 2020. D. If Mr. Craig and Logo are related parties, Mr. Craig must include his $50,000 bonus in 2019 gross income.