According to Public Law 86-272, the Sale of Tangible Goods

question 68

True/False

According to Public Law 86-272, the sale of tangible goods to residents of a state is not sufficient to establish nexus in that state.

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Definitions:

Statement of Cash Flows

A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company.

Operating Activities

Business activities related directly to the production, sale, and delivery of a company's products or services, which are reflected in the cash flows from operating activities in the statement of cash flows.

Net Cash

The amount of cash remaining after all operating expenses, investments, and financial activities have been accounted for.

Cash Basis

A financial recording approach where earnings and expenditures are acknowledged solely upon the actual exchange of cash.