Which of the following statements is true about the term subjective impossibility?
a. The defense of subjective impossibility is accepted by the courts in only a few situations.
b. Hardships such as strikes, riots, and acts of God are automatically included in the term subjective impossibility.
c. Physical impossibility is the same as subjective impossibility.
d. All of these.
A
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If one is considered to be a public figure, then actual malice must be proven in a defamation case
Indicate whether the statement is true or false
All of the jobs at LennoCorp are grouped according to predetermined grades based on the level of skill, breadth of knowledge, and amount of responsibility each job requires. When a new position needs to be created, its specifications can be compared to the descriptions of each grade to determine the appropriate wage. LennoCorp uses a job ranking system.
Answer the following statement true (T) or false (F)
Mr. Jamail transferred business personalty (FMV $187,000; adjusted tax basis $29,900) to J&K Partnership in exchange for a partnership interest. Which of the following statements is true?
A. If Mr. Jamail owns a 14% partnership interest immediately after the exchange, his tax basis in the interest is $187,000. B. If Mr. Jamail owns a 14% partnership interest immediately after the exchange, he must recognize a $157,100 gain. C. If Mr. Jamail owns 34% partnership interest immediately after the exchange, he recognizes no gain on the exchange. D. Statements A and C are true.
SPI = 1
What will be an ideal response?