Using the Following Choices, Show the Justification for Each Provision

question 143

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 Federal deduction for state and local sales taxes paid.

• 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:

Opportunities

Potential situations in the market that, when leveraged, can lead to the growth and success of a business.

Threats

External challenges or dangers that could potentially harm the operation, objectives, or survival of an organization or system.

Intangibility

A characteristic of services that means they cannot be seen, tasted, felt, heard, or smelled before they are bought.

Marketing Goals

Specific, measurable objectives that a company aims to achieve through its marketing efforts to support overall business goals.