Purposeful actions to take advantage of or harm others during a transaction is best described as
A. shoplifting.
B. consumer piracy.
C. consumer fraud.
D. organized retail crime.
E. abusive shopping.
Answer: C
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The inventory method which results in the prices paid for earliest purchases assigned to cost of goods sold is:
a. First-in, first-out. b. Last-in, first-out. c. Last-in, last-out. d. Moving average.
An H4 visa holder is eligible to work in the United States for minimum wages or higher
Indicate whether the statement is true or false
During the current year, Martin purchases undeveloped land as an investment. Martin intends to rent the land as pastureland and hopefully sell it later for a profit. In the current year, Martin receives no rent but he does pay taxes of $2,800, mortgage interest of $900 and liability insurance of $500. How much of these expenses can Martin deduct (before any limitations) on his current tax return?
A) $0 B) $1,400 C) $3,700 D) $4,200
Office Plus, an office supply store, ordered 600 blank CDs from Curtis Co, a manufacturer of computer products. Office Plus placed the order using a preprinted purchase order form; Curtis acknowledged the order by sending a preprinted acceptance form back to Office Plus. Unlike Office Plus' form which says nothing about packaging, Curtis's form specifies that the CDs will be packaged in cases of
10 CDs per box, 10 boxes per case. Which statement is correct? a. The UCC does not cover computer CDs. b. Curtis's packaging term is a different term which materially changes the offer. There is no contract. c. Curtis's packaging term is an additional term and therefore a part of the contract unless Office Plus promptly objects to the term. d. The UCC does not cover the contract because both parties are merchants.