Zoning laws have the greatest impact on which "Right" in the Bundle or Rights?
a. right to use
b. right to dispose
c. right to possess
d. right to exclude
Answer: a. right to use
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On January 1, A Plus Services has the following balances
Accounts Receivable $25,000 (debit) Bad Debts Expense $0 A Plus Services has the following transactions during January: Credit sales of $140,000, collections of credit sales of $90,000, and write-offs of $16,000. A Plus Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable is ________. A) $10,286 B) $59,000 C) $24,889 D) $75,000
Which of the following statements is false regarding tax return preparers?
A. Only a person who signs a return as the preparer may be considered the preparer of the return. B. Unpaid preparers, such as volunteers who assist low-income individuals, are not considered to be preparers for purposes of preparer penalties. C. An employee who prepares the return of his or her employer does not meet the definition of a tax preparer. D. The preparation of a substantial portion of a return for compensation is treated as the preparation of that return.