Jim and Nancy, a married couple, lived outside Oregon all year. They intend to come back to Oregon in the future. They had no income earned in Oregon, and their only home was in Montana where they actually lived. They visited family and friends in Enterprise, Oregon, for two weeks in the summer. Although Jim and Nancy consider themselves Oregon residents, they will be treated as nonresidents for tax purposes.

What is the definition of a fiduciary?

A) A person in a position of trust and confidence who handles the affairs and funds of others B) An insurance agent who sells policies worth more than $1 million in death benefits C) An institution that handles trust accounts for the wealthy D) A person who determines policy rates at an insurance company"

Business firms encounter legal ________ in the form of laws or court decisions and in the advice they receive from people with formal legal training

A) deductions B) inductions C) reductions D) conclusions