Why is corporate income tax in Germany based on financial accounting income?
A. Germany had rules for financial accounting before it had a corporate income tax.
B. The German Accounting Standards Board has more authority than the Bundestag.
C. German financial accounting standards reflect true economic income.
D. Germany was following the practice set by the United Kingdom.
Ans: A. Germany had rules for financial accounting before it had a corporate income tax.
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What was the doctrine of caveat emptor in sales or lease contracts?
A) It was law balanced risk of loss between seller and buyer. B) It was a law that stated the risk of loss was completely on the buyer. C) It was a law that gave more protection to the buyer in a sales contract. D) It was a law that stipulated the issue of warrants in sale or lease transactions.
Advocates of the professional obligation school of social responsibility argue that business managers have a responsibility to the public beyond merely making profits
Indicate whether the statement is true or false