Question 5 Using the above pairings, which is the Principal and which is the Agent? Tax...
Which of these pairs is an agency? Tax Preparer/Taxpayer • True False Question 2 Teacher/Student True • False Question 3 Retail Clerk/Customer True False Question 4 Attorney/Client True False
QUESTION 38 An agent has implied Authority when: a. The principal has ratified past actions, leading third persons to believe authority exists b. The principal fails to give written notice to past customer after terminating the agency C. An emergency makes necessary prompt action by the agent in order to safeguard the property interests of the principal d. Any of the above one cher 2 points Save Answer Click Save and Submit to save and submit. Click Save All Answers...
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 5. An agency formed by making a written or oral agreement which clearly defines the scope of the relationship is known as an 6. ( True False) An agency formed by implication through the conduct of the parties is known as an Agency by estoppel 7. (True False) Agency by implied authority can conflict with any express authority. 8. An agency in which an individual...
Question 6 1 pts A principal can ratify an agreement made without authorization on his or her behalf by one who is not his or her agent. True False Question 7 1 pts An agent must notify the principal of all material matters that come to his or her attention regarding the subject matter of the agency. True False Question 8 1 pts A principal may confer authority on an agent only in writing. True False Question 9 1 pts...
You are a tax preparer. Review the expenses submitted by the client and assist your staff with the completion of itemized deductions using the new tax laws. For expenses that are not allowed, explain why these expenses are disallowed. AGI is $45,000. Client submitted expenses:1. Taxpreparation fees from the prior year $ 2502. Personalproperty taxes $ 5003. Reimbursedhealth insurance premiums $1,5004. Charitablecontributions (cash only) $ 2005. Prescriptions $ 1506. Mortgageinterest $3,8507. Contactlens $ 2008. Stateincome taxes withheld $1,6759. Unreimbursedmedical expenses $ 87510. Services provided qualified non-profit $1,000
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 1. The relationship between a principal and an agent is generally known as an 2. A person who has a legal to duty to act with trust and confidence for another person's benefit is known as a 3. (True False) Agency relationships can be created only for a lawful purpose and almost anyone can serve as an agent. 4. A document giving an agent authority...
QUESTION 6 An 18-year-old full-time student child who is claimed on the parents' tax return as a dependent is eligible for the child tax credit. True False 1 points QUESTION 7 A single taxpayer, who is not a dependent on another’s return, not blind and under age 65, with income of $11,750 must file a tax return. True False 1 points QUESTION 8 If an unmarried taxpayer paid more than half the cost of keeping a home which is the...
All of the following are general sources of federal tax law, EXCEPT: Treasury Department regulations court decisions tax treaties revenue procedures 2. The main reason taxpayers bring their case to the Tax Court is that: a. taxpayers can be awarded attorney costs if they win b. taxpayers do not have to pay their tax deficiency first c. taxpayers can file their petitions to the court as late as one year after receiving an IRS deficiency notice d. the Tax Court...
Draft a sample consent form using the following assumptions: Hytril is an investigational antihypertensive agent being studied as a once a day agent (10mg) in patients with mild hypertension. The study is 8 weeks long and is placebo controlled. Enrollment will be approximately 150 patients over 6 months. Side effects include: headache, nausea, and skin rashes. This agent can lower blood pressure 15% and has been approved for use in Europe. The investigator is Dr. Pressure and the IRB is...
5- Which of these would be an Act Discreditable to the profession by you under the Code of Professional Conduct? Withholding audit work papers which contain data , to which the client has no other access, from a successor auditor where you have not been paid for the prior year’s audit Being sued for ordinary negligence by your audit client and losing Making a clerical error on your tax client’s tax return and not informing the corresponding government agency...