Using the Following Choices, Show the Justification for Each Provision

question 75

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.
-A deduction for qualified tuition paid to obtain higher education.

• 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:

Sufficient Value

A concept in contract law that refers to the necessity of both parties exchanging something of value for a contract to be considered valid.

Trademark

A distinct symbol, pattern, or phrase that distinguishes the goods or services of one origin from those of another.

Manufacturer

Any person or entity that makes goods or merchandise from raw materials by hand or by machinery, often on a large scale.

Madrid Protocol

An international treaty that provides a centralized system for obtaining a bundle of trademark registrations in different jurisdictions with a single application.