An agent is trying to sell a house for $100,000 for her principal. The principal will sell the house for as little as $80,000, but wants to get as much as possible. The agent tells her cousin to offer $81,000 . The agent's actions are:
a. a legitimate effort to get the deal done that will benefit everyone involved b. a violation of the duty of accounting
c. a violation of the duty of notification
d. unethical, but it does not violate legal duties e. none of the other choices
e
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In Year 1, Farb, a cash-basis individual taxpayer, received an $8,000 invoice for personal property taxes. Believing the amount to be overstated by $5,000, Farb paid the invoiced amount under protest and immediately started legal action to recover the overstatement. In November Year 2, the matter was resolved in Farb's favor, and he received a $5,000 refund. Farb itemizes deductions on his tax returns. Which of the following statements is true regarding the deductibility of the property taxes?
a. Farb should deduct $8,000 in his Year 1 income tax return and report the $5,000 refund as income in his Year 2 income tax return. b. Farb should deduct $3,000 in his Year 2 income tax return. c. Farb should deduct $3,000 in his Year 1 income tax return. d. Farb should not deduct any amount in his Year 1 income tax return when originally filed, and he should file an amended Year 1 income tax return in Year 2.
The objective function of a transportation problem is to:
A) maximize transportation cost B) maximize supply quantities C) minimize total demand D) minimize total shipping cost E) minimize production cost