In determining whether a debt is a business or nonbusiness bad debt, the debtor's use of the borrowed funds is important
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: The use of the funds by the debtor is of no consequence in making the determination. The determination is made at the creditor level.
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When a question has labels, i.e. "yes" or "no" answers, we can say the scale is metric
Indicate whether the statement is true or false
Which of the following statements about action plans is true?
A. Action plans should not be constrained by a time frame in order to allow for modification. B. Action plans must be specific so that managers have a clear understanding of the resource requirements necessary to implement the plan. C. Action plans should permit a degree of autonomy to managers and not be constrained by budgets. D. Action plans should hold employees accountable for the implementation.
Copyright infringement may be unintentional
a. True b. False Indicate whether the statement is true or false
All of the following statements are true regarding nonliquidating distributions of a partnership except
A. in no circumstances may the partner's basis in the partnership interest be reduced below zero as a result of a nonliquidating distribution. B. if, after money distributions reduce the partnership basis, the adjusted basis of distributed property does not exceed the partner's basis in the partnership interest, the basis of the distributed property carries over to the partner. C. in no circumstances will the partner or the partnership recognize gain or loss from a nonliquidating distribution. D. if money is distributed in excess of the partnership interest, the partner receiving the distribution has capital gain.