When Resolving a Billing Dispute,a Creditor Must Either Tell You

question 163

Multiple Choice

When resolving a billing dispute,a creditor must either tell you why the bill is correct or:

• A)correct your account within two billing periods.
• B)send this information to a credit bureau.
• C)require you to pay the bill in full and then credit your account if the error is found.
• D)start the collection process.
• E)demand that you surrender your credit card.

Know the characteristics and tax treatment of corporate distributions to shareholders.

Understand the taxation of corporate distributions of property to shareholders.

Gain insight into the special tax treatment and provisions applicable to corporations, including alternative minimum tax and specific deductions.

Recognize the requirements and tax implications of forming a corporation, including the tax-free exchange provision.

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Definitions:

True Slope

The actual slope of the relationship between two variables in the population, as opposed to an estimated slope.

Least-Squares Regression

A statistical method that estimates the best-fitting line through a set of points by minimizing the sum of the squares of the vertical distances from the points to the line.

Cottage Cheese

A fresh cheese curd product with a mild flavor, characterized by small to large curd sizes.

Ice Cream

A frozen dessert typically made from dairy products, such as milk and cream, and often combined with fruits, flavors, or other ingredients.