Lesson 1 The IRS as an Administrative Agency 1. Briefly describe the organization of the IRS and how authority to administer the internal revenue law is delegated to it by Congress and the Secretary of the Treasury. 2. The complaint is frequently heard that the IRS appears to operate as if there were no restrictions upon its authority to investigate and harass taxpayers. Discuss what controls Congress‚ the courts‚ and the executive branch exert over the IRS and its administration of the tax law
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3. Principles on which vicarious liability is based The doctrine of vicarious liability is based on principles which can be summed up in the following two maxims : (a) Qui facit per alium facit per se :- The maxim means‚ ‘he who acts through another is deemed in deemed in law as doing it himself’. The master’s responsibility for the servant’s act had also its origins in this principle. The reasoning is that a person who puts another in his place to do a class of acts in his absence‚ necessarily
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world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities = Assets + Owners ’ Equity C. Assets = Liabilities + Owners ’ Equity D. Assets + Liabilities = Owners ’ Equity 4. Nearly a week before Hurricane Katrina reached New Orleans‚ Wal-Mart began moving trucks and supplies into position‚ as specified in the company ’s ________ plan.
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India’s large population - asset or liability? In his theory of population‚ Malthus stressed the need of keeping population within limits to the point he called Optimum. At this point in time‚ India has a population of about 1.27 billion people‚ and it supports upto 17% of the entire world’s population. Of these 1.27 billion people‚ 50% are below the age of 25‚ and 65% are below the age of 35. This means that the major part on India’s population are students and young workers. There are more
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CRIMINAL PROCEDURE Jurisdiction Supreme Court Court of Appeals Sandiganbayan RTC MeTC‚ MTC‚ MCTC Original – Concurrent Exercise original jurisdiction over cases affecting ambassadors‚ other public ministers and consuls. Exercise original jurisdiction over petitions for certiorari‚ prohibition‚ mandamus‚ quo warranto‚ and habeas corpus It shall exercise exclusive original jurisdiction to issue writs of mandamus‚ prohibition‚ certiorari‚ habeas corpus‚ and quo warranto‚ and auxiliary
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Liability Alex Washington ACC 205 Principles of Accounting I Instructor: James Rodisch July 28‚ 2013 1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: * Social Security taxes: 6% on the first $55‚000 earned per employee * Medicare taxes: 1.5% on the first $130‚000 earned per employee * Federal income taxes withheld from wages: $7‚500 * State income taxes: 5% of gross earnings * Insurance withholdings:
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2. THE FEATURES OF THE LIMITED LIABILITY COMPANY Limited Liability Company‚ along with other types of business entities‚ as well as business partnerships‚ cooperatives‚ state and municipal unitary enterprise is a commercial organization‚ namely organizations that pursue profit as the main goal of their activities and distributing the profits among the participants. This limited liability is characterized by the fact that the current (operational) management in the company (as opposed to partnerships)
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July 4‚ 2012 BAM530 Business Ethics Unit 3 Question #3: Evaluate the concept of strict liability. Strict liability is the legal responsibility levied on a person or company for certain damages or injury even if they were not at fault. Strict liability can even apply even if the person or company did not physically commit any act to cause the actual injury. Corporations can be held liable for the defects of their product even if they did not know about the problem or harm
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The alternative liability theory is most often used when two or more tortfeasors simultaneously commit independent acts of negligence‚ but only one act causes the injury‚ the plaintiff is then relieved from the burden of proof with respect to causation‚ and may sue both tortfeasors without direct proof of causation. However‚ the burden thus shifts to the defendant to exculpate them. Otherwise‚ defendants will be held joint and severally liable. In addition‚ the alternative liability theory has a
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Question 1 Mary v Peter Issue Given that Mary was injured by Peters’ act‚ is he solely liable for the accident? Law * In this case‚ we have to look at the Civil Liability Act 2002 (NSW) to determine who was negligent and in specific‚ we use s 5B(1)‚ s 5B(2) and s 5R of the Civil Liability Act 2002 (NSW); s 5B(1) for the reasonable foreseeability test‚ s 5B(2) for determining if the standard of reasonable care has been breached and s 5R for contributory negligence. * Where both the
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