Using the Following Choices, Show the Justification for Each Provision

question 56

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 bribe to the local sheriff, although business related, is not deductible.

• 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:

Cost Reductions

Measures or strategies implemented to decrease the expenses incurred by a business, government, or individual.

Barrier

An obstacle or hindrance that prevents progress or access, which can be physical, psychological, or systemic in nature.

Public Officials

Individuals holding positions of authority in government institutions, responsible for making and implementing decisions.

Social Phenomena

Events, behaviors, or structures within society that are observable and can influence or indicate the norms, values, and practices of a community.