You Made an Error When You Filed Your Tax Return

question 44

Multiple Choice

You made an error when you filed your tax return last year.You can correct this error by filing Form

• A)1040ES.
• B)1040X.
• C)1040E.
• D)Schedule A.
• E)Schedule D.

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Definitions:

Security Interest

A legal claim or lien on collateral, ensuring that a debt or obligation is secured with specific property.

Creditor

An individual or institution that lends money or extends credit to another entity, which is obliged to pay back the loan.

Pledge

The transfer of collateral to a secured party.

Collateral

Assets pledged by a borrower to secure a loan or credit, which the lender can seize if the borrower defaults on the repayment.