Under most tax treaties, income attributable to a permanent establishment through which a foreign taxpayer conducts business can be taxed only by the taxpayer's country of residence.
Answer the following statement true (T) or false (F)
False
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The doctrine of res ipsa loquitur would permit the court to infer negligence in which of the following situations?
a. A ladder rung broke under the weight of a worker's foot. b. A sign over a storefront fell on your head. c. A patron of a restaurant slipped on a wet spot on the floor and hit her head on a chair. d. All of these.
Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,200, outstanding checks of $1,600, a NSF check of $560, bank service charges of $24 and the EFT from a customer in payment of the customer's account of $1,200.What journal entry should be recorded by Egrane for the EFT?
A. Debit Cash and credit Accounts Receivable for $1,200. B. No journal entry is necessary for this item. C. Debit Accounts Receivable and credit Cash for $1,200. D. Debit Cash and credit Sales Revenue for $1,200.
Alex is 37 years old, single and employee of Ellis Company. I. If Alex is an active participant in the company's pension plan, he is allowed to make a contribution to his IRA account only if his adjusted gross income is less than $62,000. II. If Alex is an active participant in the company's pension plan, and has adjusted gross income of $67,000, he is allowed to contribute $5,500 to his IRA
account, but he is only allowed a deduction of $2,750 for the contribution because his adjusted gross income is between $62,000 - $72,000. a. Only statement I is correct b. Only statement II is correct c. Both statements are correct. d. Neither statement is correct.
The ____ Index reflects the total market value of over 98% of all publicly traded stock in the US
a. Dow Jones Industrial Average b. S & P 500 c. NASDAQ d. Wilshire 5000 e. New York Stock Exchange