In the ordinary course of business, Loan2Buy Corporation offers credit to Mai and other consumers and reports on the loans to credit agencies. To save time and money, Loan2Buy generally does not correct or update its reported information. This is most likely to result in
a. a levy of a nominal fine.
b. an assessment of damages.
c. an order of rescission of the loan contracts.
d. no sanctions.
b
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Michael died in 2013 with a taxable estate and estate tax base of $6,000,000. Michael's estate owed no state death taxes. Michael's estate includes $250,000 of income in respect of a decedent (IRD), none of which is received by his surviving spouse. His estate had no DRD. The estate collects $200,000 of the IRD during its current tax year. The Sec. 691(c) deduction for the estate in current year is
A. $90,000. B. $153,000. C. $80,000. D. $122,400.
A shareholders' written agreement, unlimited in duration, to vote in a specified manner for the election of directors is a voting trust
a. True b. False Indicate whether the statement is true or false
Clomien Corp., a law firm, needs frequent interpretation of its stored data for cross-references and formulation of decisions. It uses a(n) _____ to help it discover subtle and complex relationships hidden in its data.
A. expert system B. data warehouse C. cybermediary D. business intelligence system
A subpoena is an order by the court served on
a. the attorney to produce the defendant in court. b. a person to appear and testify as a witness in a legal action. c. the warden of a jail to produce the prisoner in court. d. a person to be examined for possible jury duty.