__________ Powers Are Those That Congress Can Use in Order

question 96

Short Answer

__________ powers are those that Congress can use in order to exercise its enumerated powers.

---

Definitions:

Form 1120

A tax form used by corporations in the United States to report their income, gains, losses, deductions, and credits to the IRS.

Fiscal Year

A fiscal year is a 12-month period used for accounting purposes and preparing financial statements, not always coinciding with the calendar year.

FMV

Fair Market Value, the price at which property would sell on the open market between a willing buyer and seller.

Basis

The amount of investment in property for tax purposes, used to calculate the gain or loss on the sale, exchange, or disposition of property.