If You Are a Professional Who Is Likely to Receive

question 62

Multiple Choice

If you are a professional who is likely to receive income that is not subject to withholding, then you are required to:

• A) pay an estimated tax.
• B) file an amended return.
• C) file an extension.
• D) deduct a tax credit.
• E) calculate itemized deductions.

---

Definitions:

Conglomerate Merger

A type of business combination where two or more companies in unrelated industries come together to form a single corporate entity.

Budget Cutbacks

The process of reducing budgeted expenditures, often in response to fiscal deficits, economic downturns, or reallocation of resources.

Psychological Needs

Basic human motivations that include the need for love, esteem, belonging, autonomy, and competence, influencing behavior and well-being.

Terminated Employees

Employees who have been dismissed or laid off from their positions within an organization.