Answer the following statement(s) true (T) or false (F)
The forcing events that require an entrepreneur to step aside and let someone direct the operation are usually unforeseen and create major problems for the business.
ANSWER: True
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"Active participation" and "real estate professional" are both exceptions to the general rule for passive activity losses with rental real estate. I.One of the tests that a taxpayer must meet to qualify as a real estate professional is that the taxpayer spend more than 50% of his or her time in real property trades or businesses in which he or she materially participates.II.A taxpayer with an AGI of $190,000 qualifying under the real estate professional exception may deduct an unlimited amount of rental real estate losses.?
A. Only statement I is correct. B. Only statement II is correct. C. Both statements are correct. D. None of the statements are correct.
A voucher is an external document used to accumulate information to control cash payments and to ensure that a transaction is properly recorded.
Answer the following statement true (T) or false (F)
Which of the following is a potentially negative outcome of job rotation?
A. It fails to provide employees with a holistic view of the company's goals. B. It creates a short-term perspective on problems. C. It has no relationship with promotion rates. D. It cannot be used for all levels and types of employees.
Discuss the concept of insurable interest. Indicate the difference between a buyer's and a seller's insurable interest.
What will be an ideal response?