Which of the Following Would Be Considered Part of the Underground

question 140

Multiple Choice

Which of the following would be considered part of the underground economy?

• A)selling subway tokens
• B)tax avoidance
• C)deducting housing interest when figuring your income taxes
• D)sales of alcohol and cigarettes
• E)paying by credit card to avoid writing a check

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Definitions:

Liquidated Damages

A set sum of money required as a penalty for not fulfilling contractual obligations.

Injunction

A legal order issued by a court that directs an individual or entity to do or to refrain from doing a specific act, used to prevent harm or to preserve the status quo pending a final determination of the case.

Specific Performance

A legal remedy requiring a party to execute a contract as agreed, rather than paying damages for non-performance.

Specific Performance

A legal remedy that compels a party to execute a contract according to the precise terms agreed upon, rather than awarding damages for breach.