One characteristic of an abnormally dangerous activity is that it involves a low degree of risk.
Answer the following statement true (T) or false (F)
False
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"Limited life" means
a. a partnership may be dissolved as the result of any change in the ownership. b. a partnership may be dissolved if the location of the business is changed. c. a partnership is limited to the amount of net income it can earn. d. a partnership is limited in the amount of debt it is liable for in the course of the business.
One of the problems of workers' compensation laws is that the laws give employers less incentive to invest in work-site safety
a. True b. False Indicate whether the statement is true or false
Which of the following would be a likely mathematical expression for Total Variable Cost?
a. Total Variable Cost = Production Volume × Revenue per Unit b. Total Variable Cost = Material Cost per Unit × Labor Cost per Unit c. Total Variable Cost = Total Cost – (Material Cost per Unit + Labor Cost per Unit) d. Total Variable Cost = (Material Cost per Unit + Labor Cost per Unit) × Production Volume
Karen, a U.S. citizen, earns $40,000 of taxable income from U.S. sources, $20,000 in taxable wages from Country A and $20,000 in taxable interest from Country B. The U.S. tax rate is 25%. The tax on Country A income is $8,000, and Country B charges no tax on the interest income. Assuming two baskets are needed for the two types of income because the interest is passive income, Karen's foreign tax
credit that can be claimed is A) $5,000. B) $10,000. C) $20,000. D) none of the above