When a Change in the Tax Law Is Deemed Necessary

question 62

True/False

When a change in the tax law is deemed necessary by Congress,the entire Internal Revenue Code must be revised.

Grasp the fundamental principles of political economy, capitalism, and the legal systems in Canada.

Understand the concept of fundamental changes in a corporation and their implications.

Identify who has the authority to propose and who must approve fundamental changes in a corporation.

Recognize the rights of minority shareholders in the event of fundamental changes.

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Definitions:

Veins

Mineral deposits that fill cracks in rocks, often distinguished by their different materials from the surrounding rock.

Hydroelectric Dams

Dams built to generate electricity by using the energy of water flowing through turbines.

Ocean Tides

The regular rise and fall of the sea level caused by the gravitational pull of the moon and sun on the Earth's oceans.

Turbines

Machines for producing continuous power in which a wheel or rotor, typically fitted with vanes, is made to revolve by a fast-moving flow of water, steam, gas, air, or other fluid.