Olaf is the creditor in a transaction with Phil. Once certain requirements are met, Olaf's rights will attach, which means that Olaf will have
A. an indivisible ownership right to Phil's property.
B. an enforceable security interest in Phil's property.
C. a notice affixed to Phil's property.
D. the permission of a court to seize Phil's property.
Answer: B
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Which of the following statements about divorce settlements is false?
A. Child support is excluded from the recipient's gross income. B. Alimony required under a pre-2019 divorce decree is excluded from the recipient's gross income. C. Alimony required under a pre-2019 divorce decree is an above-the-line deduction for the payer. D. None of the above is false.
Evidence of sharing profits is prima facie evidence of partnership existence unless the profits are:
A) wages or rent B) not shared equally. C) income. D) All of the above
Which state passed the first securities law?
A) California B) Kansas C) New York D) Arizona
Which of the following statements is/are true about Medicare tax? (Select all that apply.)
A) All employee earnings less pre-tax deductions are subject to Medicare tax. B) Employers match all Medicare taxes withheld. C) The Medicare tax rate is 1.45%. D) Additional Medicare tax is withheld for employees who earn more than $150,000 annually.