A Federally Sponsored Test Given in the United States to Measure

question 106

Essay

A federally sponsored test given in the United States to measure achievement in reading, math, and other subjects is called the _____.

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Definitions:

Subchapter S Corporation

A type of corporation designed for small businesses that allows income to be passed through to shareholders and taxed at individual rates, avoiding double taxation.

Net Income

The amount of revenue that remains after deducting all expenses, taxes, and costs from the total revenue of a business or individual.

Capital Gains

refer to the profit made from selling an asset for more than its purchase price.

Quarterly Estimated Payments

Payments made to the IRS by self-employed individuals or entities that anticipate owing tax of $1,000 or more, paid in four equal installments throughout the year.