1) Which of the following is a distinguishing feature of a common law legal system? D. The making of law by the judges and the following of precedent 2) Which best describes the types of agency authority held by officers of a corporation? D. Express‚ implied‚ and apparent authority 3) If an LLC fails to follow formalities such as keeping minutes of meetings‚ which of the following is true? C. This failure will not result in imposing personal liability on any member
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lobbyists do this by educating the government about issues that their members are interested in. When the laws pass the lobbyists then educate their constituents on the issues that are passed. Although many members of the public believe that lobbyists bribe congressmen for votes‚ they are more involved in the information aspect of the policy making process. The passing of information to the law makers is the most important and time consuming part of the job. Lobbyists want the correct information given
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___________________________________________________________________________ 1. James is in the business of debt collection. He purchased a $20‚000 account receivable from Green Corporation for $15‚000. During the year‚ James collected $17‚000 in final settlement of the account. James can take a $2‚000 bad debt deduction in the current year. True False 2. If a business debt previously deducted as partially worthless becomes totally worthless this year‚ only the amount not previously deducted
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Lifting the Corporate Veil Business Law Assignment MGMT 2021 28th October‚ 2013 Prepared By: BRIGGETTE BRATHWAITE(412000034) JULICA CAVE(412000690) RICHARD COGGIN(412000063) CHARLENE CORBIN(412000064) JOSHUA GAY(412000100) Introduction Business Law is a branch of law that institutes the framework of economic transactions and activities‚ and their legal implications within a business context. As a result‚ it provides governance over the manner in which business activities can legitimately
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III. Taxation Introduction Taxation * Defined as the power of the sovereign to impose burden or charges upon persons‚ property or property rights for the use and support of government In order to enable it to discharge its function. Nature of Taxation Power * The power of taxation is both inherent and legislative in character because it has been reserved by the State for it to exercise * It is inherent because the sustenance of government requires contribution from them. *
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SCHOOL OF BUSINESS SCHOOL OF TAXATION AND BUSINESS LAW LEGT 5551 - TAXATION LAW SAMPLE CLASS TEST QUESTIONS Summer‚ 2011 Note: You must bring this document to the Week 7 lecture This document is protected by copyright law. This document was prepared by Dale Boccabella‚ with contributions from Tom O’Sullivan‚ in the School of Taxation and Business Law‚ for the private use of students undertaking the Taxation Law course at UNSW. No other use should be
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Tax Lesson 1 – Taxation Principles – Residence and source Corporations Agenda • Residence and Source as principles of taxation • Special case 1: The Hong Kong case • Example of tax planning based on the principle of source • Special case 2: the USA case Agenda • Residence and Source as principles of taxation • Special case 1: The Hong Kong case • Example of tax planning based on the principle of source • Special case 2: the USA case Introduction • Taxation for individuals
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Chapter 1 Discussion Questions 1. Fraud always involves deception‚ confidence‚ and trickery. The following is one of the most common definitions of fraud: “Fraud is a generic term‚ and embraces all the multifarious means which human ingenuity can devise‚ which are resorted to by one individual‚ to get an advantage over another by false representations. No definite and invariable rule can be laid down as a general proposition in defining fraud‚ as it includes surprise‚ trickery‚ cunning and unfair
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What is taxation? Taxation is a requirement in all countries. It is a method to provide the society with the necessities needed. Hence it combines all efforts from the full society for public goods. Franklim D. Roosevelt once said “Taxes‚ after all‚ are dues that we pay for the privileges of membership in an organized society”. Which makes people wonder of the importance of taxation in a sociey‚ roles of taxation‚ fairness of taxation‚ and a new method of tax green tax. Importance of Taxation in a
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LIST 12 INTRODUCTION The issue in the first case is sit out about the Tax Residency of overseas employee working in Australia and Assessing the Taxable income and Tax liability in regards to Income Tax laws in Australia. It provides insides about Australian Taxation System and Common law cases effects on determination of Taxable income and deductions to different types of income. The second case is based on taxability of Income and deductions arise from the transactions related to property
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