Intentional misrepresentation occurs when a seller or lessor conceals a defect in a product
Indicate whether the statement is true or false
TRUE
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Companies engaged in different types of profit-making activities are likely to be divided by
a. size; b. profits; c. time; d. departments; e. managers
Characteristics are properties of people or things
Indicate whether the statement is true or false
Karla, a lawyer, hired Jackson to do general clerical work for her. She maintained control over his work, gave him day-to-day instructions regarding his duties, paid him on an hourly basis, and furnished all equipment he needed. For tax purposes, Karla claimed Jackson as an independent contractor. She was audited by the IRS who took the position that Jackson was an employee. Please explain why Jackson is, or is not, an independent contractor. Also explain the effect of the IRS determination of employee or independent contractor.
What will be an ideal response?
A master limited partnership (MLP) is
A. is not traded on the stock exchanges. B. is taxed like a partnership. C. is the corporate form of choice for small groups of individuals. D. pays corporate income taxes.