A law that limits only some persons' exercise of a fundamental right is valid under any circumstances.
Answer the following statement true (T) or false (F)
False
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If a partner is permitted to withdraw more than the book value of his/her interest, the effect of the transaction will increase the capital accounts of the remaining partners
a. True b. False Indicate whether the statement is true or false
For firms interested in building long-term customer relationships, having satisfied customers is enough to ensure the relationship is going to last.
Answer the following statement true (T) or false (F)
Mrs. Heyer inherited real estate from her mother. The mother's basis in the real estate was $382,000, and the fair market value at the date of the mother's death was $900,000. The mother's taxable estate was only $2.4 million, so the estate did not owe any federal estate tax. This year, Mrs. Heyer sold the real estate for $875,000. Compute her gain or loss recognized on sale.
A. $875,000 gain B. $493,000 gain C. $25,000 loss D. $0
A letter of credit: ______
A) is an advance arrangement for financing. B) is used only in domestic sales. C) involves only two parties. D) is used only in international sales.