Acct 215 Practice Exam Questions And
Already Passed Answers.
Which of the following business entities generally incurs "double taxation"? - Answer A corporation
Peter enters into an agency agreement with Wallace. Wallace is to deliver goods produced by Peter.
Peter loads his goods onto a trailer which Wallace then pulls with his truck. One day, Peter does not
exercise ordinary care when loading the trailer. Wallace does not exercise ordinary care when inspecting
the trailer. While Wallace is pulling the trailer, goods fall from the truck and hit the car of Nancy. Nancy's
car is damaged. Based upon these facts, Nancy can sue - Answer Peter and Wallace both
Summer works for Ice Cream Stop which serves ice cream cones. Summer is paid by the hour. Her hours
are scheduled by her manager. The Ice Cream Shop withholds social security and Medicare taxes from
her paycheck. Summer is most likely a(an) - Answer Employee
Which of the following chapters of bankruptcy would be best for an individual who recently lost their job
because of a disability? The individual is unlikely to have a steady stream of income in the future. The
individual has a large amount of debt. - Answer Chapter 7
A chapter 7 petition can be filed - Answer Voluntarily and involuntarily
Which of the following is withheld from an employee's paycheck? - Answer Social security tax
Allison would like to leave her farm to her children. Allison wants farm land to stay in her family. She
does not want any of her children to be able to sell their interest in the land. Allison should consider
leaving the property to them as - Answer Joint tenants with the right of survivorship
In the Clemens vs. Lesnek case, - Answer The court said an "as is" clause does not always alleviate a
seller from liability
Which of the following would be considered a "nutrition content claim?" - Answer A product package
which states "gluten free"
Already Passed Answers.
Which of the following business entities generally incurs "double taxation"? - Answer A corporation
Peter enters into an agency agreement with Wallace. Wallace is to deliver goods produced by Peter.
Peter loads his goods onto a trailer which Wallace then pulls with his truck. One day, Peter does not
exercise ordinary care when loading the trailer. Wallace does not exercise ordinary care when inspecting
the trailer. While Wallace is pulling the trailer, goods fall from the truck and hit the car of Nancy. Nancy's
car is damaged. Based upon these facts, Nancy can sue - Answer Peter and Wallace both
Summer works for Ice Cream Stop which serves ice cream cones. Summer is paid by the hour. Her hours
are scheduled by her manager. The Ice Cream Shop withholds social security and Medicare taxes from
her paycheck. Summer is most likely a(an) - Answer Employee
Which of the following chapters of bankruptcy would be best for an individual who recently lost their job
because of a disability? The individual is unlikely to have a steady stream of income in the future. The
individual has a large amount of debt. - Answer Chapter 7
A chapter 7 petition can be filed - Answer Voluntarily and involuntarily
Which of the following is withheld from an employee's paycheck? - Answer Social security tax
Allison would like to leave her farm to her children. Allison wants farm land to stay in her family. She
does not want any of her children to be able to sell their interest in the land. Allison should consider
leaving the property to them as - Answer Joint tenants with the right of survivorship
In the Clemens vs. Lesnek case, - Answer The court said an "as is" clause does not always alleviate a
seller from liability
Which of the following would be considered a "nutrition content claim?" - Answer A product package
which states "gluten free"
