Match Each Numbered Entry with the Most Relevant Lettered Entry

question 18

Short Answer

Match each numbered entry with the most relevant lettered entry below.
a. contingency
b. incident to divorce
c. must be recaptured
d. instrument
e. adjusted gross income
f. joint and several
g. gross income
h. innocent spouse
i. not living in the same household
j. pendente lite
29. improper alimony deduction
30. the result after allowable deductions
31. together and individually
32. not liable for errors on tax return
33. one of the requirements for deductible alimony
34. before the outcome of the litigation is known
35. the result before allowable deductions
36. something that may or may not occur
37. formal document
38. occurs within one year after a marriage ends

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Definitions:

Voting Stock

Shares that give the shareholder the right to vote on corporate matters, such as electing directors and approving company policies.

Book Value

The value of an asset according to its balance sheet account balance, taking into account the cost of the asset minus depreciation.

Fair Value

The estimated market price of an asset or liability in an orderly transaction between market participants at the measurement date.

Partial Equity Method

An accounting approach used when a company holds a significant influence, but not control, over an investee, recognizing a portion of the investee's income proportional to ownership stake.