Match the Definition with the Correct Term

question 63

Multiple Choice

Match the definition with the correct term.
-An individual who gives up U.S. citizenship to avoid U.S. income taxes.

• A)Expatriate
• B)Resident
• C)Nonresident alien
• D)U.S. trade or business
• E)Effectively connected income

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Definitions:

Partnership

A legally structured business partnership that involves multiple individuals co-managing and sharing the earnings.

Dissolution

refers to the legal termination of a business entity or partnership, effectively ending its existence or operations.

Partnership

An agreement between two or more parties to manage and operate a business together and share its profits or losses.

Winding-Up Stage

The process of concluding a company's business activities, settling debts, and distributing remaining assets to shareholders.