Tourism would show up on the

A) merchandise account.
B) current account.
C) capital account.
D) A and C.

Answer: B

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Real property is owner by Baird, Carr and Falk as tenants in common. If Carr dies intestate, to whom will hos ownership interest likely pass?

A. Baird and Falk equally. B. Baird and Falk as joint tenancy. C. Carr's heirs. D. The state, by the law escheat.

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Because of the Taxpayer Relief Act entrepreneurs

a. cannot take a tax deduction for a home office if the business is very small. b. may qualify for the tax deduction even if they use their home office mainly for administrative tasks. c. will not qualify for the tax deduction if they use their home office mainly for administrative tasks. d. will not qualify for the tax deduction if they are in a townhouse or condo.

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