Once a child reaches age 19, the kiddie tax no longer applies
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: The kiddie tax does apply if the child is a full-time student under age 24.
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A company purchased a three-acre tract of land for a building site for $350,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,500. The cost of title insurance was $900 and attorney fees for reviewing the contract was $500. Property taxes paid were $3,000, of which $250 covered the period after the purchase date. The capitalized cost of the land is:
A. $364,650. B. $231,150. C. $366,400. D. $366,150.
Resume banks are maintained by the organization needing new employees
Indicate whether the statement is true or false.
Angela uses fraudulent means to induce Walter to enter a sales contract. Angela obtains a voidable title to the goods
a. True b. False Indicate whether the statement is true or false
The condition that patents must be for original inventions traces back to:
a. the British experience with abusive patents granted by King James I to raise money b. the German experience with abusive patents granted by Adolf Hitler c. the American experience with abusive patents granted as favors for senators d. the New Zealand experience with an excessive number of patents being issued every year e. none of the other choices are correct