Subtitle a of the Internal Revenue Code Deals With

question 48

Multiple Choice

Subtitle A of the Internal Revenue Code deals with:

• A)estate and gift taxes
• B)employment taxes
• C)income taxes
• D)excise taxes

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Definitions:

Operating Segment

A component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses related to transactions with other components of the same enterprise.

U.S. GAAP

Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures.

Disclosed

The act of making information known or revealed, often in a financial context.

Operating Segments

Components of a business for which separate financial information is available and is evaluated regularly by the chief operating decision-maker to allocate resources and assess performance.