Sheng and Min were cosureties for their friend Lei on a loan contract. When Lei failed to repay the loan within the stipulated time, Min paid the whole obligation as her surety. Min is now entitled to collect half the amount of liability from Sheng in accordance with her right ________.
A. to contribution
B. to reimbursement
C. of subrogation
D. to compensation
Answer: A
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Which of the following statements concerning nonqualified deferred compensation plans is true?
A. Distributions are taxed at the same tax rate as long-term capital gains. B. These plans can be an important tax planning tool for employers if they expect their marginal tax rate to decrease over time. C. If an employer doesn't have the funds to pay the employee, the employee becomes an unsecured creditor of the employer. D. These plans can be an important tax planning tool for employees who expect their marginal tax rate to increase over time.
The Bow Shop caters to archery enthusiasts. It sells bows starting at $300. The maintained markup used by the store is 60 percent. Reductions are estimated to be 12 percent. Calculate the store's planned initial markup percentage.
A. 48 percent B. 64.29 percent C. 60 percent D. 72 percent E. 55.55 percent
When consumers need a(n) ________, price and product quality may be irrelevant to the purchase decision.
A. emergency product B. impulse product C. unsought product D. staple product E. shopping product
A limited liability company with more than one member is taxed as a partnership:
A) Only if no more than four of six listed attributes are present in the limited liability company. B) In all circumstances. C) Only if at least four of six listed attributes are present in the limited liability company. D) If the limited liability company has not elected to be taxed as a corporation. E) Only if all six listed attributes are present.