Reciprocity, as a corporate policy, is:
A) always a breach of ethics
B) illegal in the U.S., but not in other countries
C) only a worry if the heads of the companies know each other personally
D) easier to navigate if the companies are in different industries
E) occasionally a form of corporate blackmail
E
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Which of the following is a true statement?
A. Meals are never deductible as a business expense. B. An employer can only deduct half of any meals provided to employees C. The cost of business meals must be reasonable D. A taxpayer can only deduct a meal for a client if business is discussed during the meal. E. None of these is true.
All of the following are true about residential appraisals EXCEPT:
a) Since a borrower's available cash for closing is generally limited and the lending guidelines are rigid, the loan originator should carefully review the appraisal for any errors. b) A lender will generally limit the loan to a maximum percentage of the appraised value of the property. c) The appraiser's final estimated market value readily allows for an increase in settlement costs up to 10% before the closing. d) A successful closing can be highly dependent on the appraiser's opinion of value.