A special situation in a stock often refers to the possibility the company will be acquired by another company
Indicate whether the statement is true or false.
TRUE
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Should the home country be "large" relative to the world, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms-of-trade effect exceeds the sum of the
a. revenue effect plus redistribution effect. b. protective effect plus revenue effect. c. consumption effect plus redistribution effect. d. protective effect plus consumption effect.
When it comes to tax liability, limited liability companies (LLCs):
A. are taxed as corporations. B. do not require partners to report their share of the LLC's profits on personal tax returns. C. in all states are required to file annual reports with the secretary of state. D. are taxed as partnerships.
Which of the following holds true of revocation of acceptance by the buyer?
A. A buyer cannot revoke acceptance of nonconforming goods if the buyer accepted the goods because of assurances by the seller. B. A buyer can revoke acceptance of nonconforming goods even after accepting goods with the knowledge of the nonconformity. C. The right to revoke acceptance can be exercised any time after the buyer discovers the nonconformity. D. A buyer can revoke acceptance of nonconforming goods when the nonconformity substantially impairs the value of the goods.
Capital and Drawing are reported in the owner's equity section of the balance sheet
Indicate whether the statement is true or false