Identify Which of the Following Statements Is True

question 3

Multiple Choice

Identify which of the following statements is true.

• A)If a foreign national has a closer connection with his home country, the individual is taxed as a resident alien.
• B)To obtain resident status, an alien must meet both the lawful permanent resident test and the substantial presence test.
• C)An individual who is a resident alien of the United States is taxed on his or her worldwide income at the same tax rates that would apply to a U.S. citizen.
• D)All of the above are false.

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Definitions:

Punitive Damages

Monetary compensation awarded to a plaintiff that exceeds simple compensation and is intended to punish the defendant for egregious behavior.

Special UCC Exception

A unique or specific deviation from the general rules established under the Uniform Commercial Code, which governs commercial transactions in the United States.

Federal Consumer Protection Laws

Legislation enacted by the federal government intended to ensure the rights of consumers, fair trade competition, and the free flow of truthful information in the marketplace.

Revoked Acceptance

The act of withdrawing acceptance of an offer in a contract, making the agreement void, under specific legal conditions.