Life insurance is critical to protect a family's financial situation in the event that a breadwinner dies

Indicate whether the statement is true or false.


Answer: TRUE

Business

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Jane receives a nonliquidating distribution of land with a fair market value of $30,000 and a basis of $18,000 from Strickland Corporation, an S corporation. Jane's basis in the stock is $46,000. What must Jane and Strickland report as income from the property distribution?    Jane  Strickland

A. $-0-      $-0- B. $12,000 $-0- C. $-0-      $12,000 D. $12,000 $12,000

Business

Which of the following factors would most likely lead to a company initiating a price cut?

A) over-demand B) weakened economy C) poor competition D) cost inflation E) weak price competition

Business

Those who are secondarily liable on negotiable instruments they endorse are known as ________

A) unqualified indorsers B) qualified indorsers C) accommodation parties D) agents

Business

Millie ordered clothes from a mail order catalog. No time was specified as to when the goods would be shipped. In such a case the FTC requires that the company must ship the goods to Millie:

a. within 3 business days after receiving the order. b. within 10 business days after receiving the order. c. within 30 days after receipt of the order. d. within a reasonable time and within time lines consistent with industry standards.

Business