Using the Following Choices, Show the Justification for Each Provision

question 121

Multiple Choice

Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-Tax on transfers at death (inheritance type)

• A)Deferral of gains from involuntary conversions
• B)Carryforward of net operating losses
• C)"No change" is a possible result
• D)State income tax applied to a visiting nonresident
• E)IRS special agent
• F)Undoing the "piggyback" result
• G)Ideal budget goal as to new tax legislation
• H)Every state that has a general sales tax has one
• I)Imposed by all states and the Federal government
• J)Imposed by some states but not the Federal government
• K)Imposed only by the Federal government
• L)No correct match provided

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Definitions:

Physical Object

An entity that exists in the physical world and can be perceived by the senses.

Manufactured Object

An item or product that has been created or produced through a manufacturing process, typically involving machinery and human labor.

Toy

An object designed for children to play with, often aiding in learning and development through entertainment.

Ball

A round object typically used in games and sports, which can vary in size, material, and design.