A Cost Resulting from the Ongoing Evolution and Use of a System

question 35

Multiple Choice

A cost resulting from the ongoing evolution and use of a system refers to a(n) :

• A)recurring cost
• B)one-time cost
• C)incremental cost
• D)frequent cost

---

Definitions:

Tax Law

The body of laws and regulations governing the administration and enforcement of tax duties on individuals, corporations, and other entities.

Charitable Contributions

Donations made to qualified organizations, which can often be deducted from taxable income.

Taxable Income

The portion of one's income that is subject to taxes by federal, state, and/or local governments, calculated after deductions and exemptions.

Carryforward

A tax provision allowing current losses or credits to be used in future tax years to offset potential gains or income.