The difference between fraud and errors is: a. the timing of the transaction b. the materiality of the value involved. c. intent of those involved. d.  whether it affects owners’ equity or not.

5. Patricia owns significant shares in an airline. There has been much speculation in the news that the price of oil may go up, negatively impacting the airline's profits. Patricia is contemplating buying stock in an oil and gas company as a way to cover her investment. This risk management strategy is commonly known as a. Self-insurance b. Hedging c. Loss Prevention d. Avoidance

What happens when an employee records a fictitious refund of goods at his cash register? a. A disbursement from the register is unrecorded. b. The victim company’s inventory is unreported, and a disbursement from the register is overstated c. The victim company’s inventory is overstated, and a disbursement from the register is recorded. d. The victim company’s inventory is understated.

What is the main reason lenders pay borrowers' property taxes through a pre-paid escrow account? It prevents a tax lien from being applied to the home. The tax lien would be senior to the mortgage lien. It prevents the borrower from refinancing with another lender because they would lose all of their escrow funds. It allows the lender to earn interest on the pre- paid tax money as itsits in the account. It allows the lender to take advantage of corporate tax deductions.

Need a long and detailed self-explanatory analysis of the following case after hearing the oral argument of the case in Oyez Bank of America Corp. v. City of Miami

Larkin and Oliver bought their first home in May 2019. Their real estate agent told them that all of the property tax would be deductible. Is this accurate? Yes. All property tax is deductible on the purchase of homes. Yes. Besides the complete property tax deduction, homeowners can also get an exclusion from capital gains (but only if they are a married couple, like Larkin and Oliver). No. The only tax benefit for homebuyers is that they are allowed to withdraw up to $10,000 from their IRA to go toward the down payment for their home. No. Homeowners can deduct a total of $10,000 between state, city, and property taxes.

Under federal law, a tax exempt Health Savings Account can only be opened for an individual who is Ο Α. covered by a qualified High Deductible Health Plan covered by Long Term Care Insurance entitled to Medicare benefits eligible to be claimed as a dependent on another person's tax return B. OC. O D.

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The Case: Ben purchased a used Laptop from Smart store during the sales period. He asked the salesperson, Rodny, if the Laptop had ever been damaged. Rodny (the salesperson) had never seen the Laptop before that morning and knew nothing of its history but quickly answered Ben’s question by stating: ‘No. It has never been damaged’. In fact, the Laptop had been seriously damaged previously and, although repaired and bought during the sales, it was worth much less than the value Ben had paid. When Ben learned the truth, he wanted to return the Laptop. Smart store replied that he cannot do that because they have a legally binding agreement and as per the agreement the items purchased during the sales cannot be returned.   Questions: A) Does the behavior of the salesperson, Rodny, constitute deception? If it constitutes deception please precise which type of deception and explain in detail all the elements of the type of deception selected. B) Decide, based on the analysis made under…

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