Which of the following best represents loss of objectivity?
A. Internal department advantage C. External firm advantage
B. Internal department disadvantage D. External firm disadvantage
B
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Draft some items for a code of ethics and business conduct. How do these items support your business idea?
What will be an ideal response?
The Jiang Trust operates a manufacturing business. Yan created the trust several years ago by contributing a successful sole proprietorship. The trust distributed one-half of its DNI this year to Yan. Yan can retain all of the trust's depreciation deductions if:
a. Yan is in a higher income tax bracket than is the trust. b. Jiang is in a higher income tax bracket than is Yan. c. The depreciable assets were contributed by Yan when the trust was created. d. One-half of the deductions belongs to the trust. No special allocations are allowed by Subchapter J.