Using the Following Choices, Show the Justification for Each Provision

question 120

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.
-Additional depreciation deduction allowed for the year the asset is acquired.

• 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:

Breast Development

The process involving physical changes in the breast tissue, usually starting during puberty, as a part of sexual maturation in females and sometimes males.

Elevated Body Mass Index

A measure indicating high body weight in relation to height, which may signify overweight or obesity.

Primary Sexual Development

The development of the reproductive organs and structures that occur during puberty.

Secondary Sexual Development

The physical changes that occur during puberty, aside from the reproductive organs, such as development of breasts in females and deepening of the voice in males.