A(n) ____________________ Is an Encapsulated Series of Statements That Carry

question 29

Short Answer

A(n) ____________________ is an encapsulated series of statements that carry out a task.

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Definitions:

Taxable Income

The portion of an individual's or corporation's income used as the basis for calculating tax owed to the government, after all allowable deductions or exemptions.

Preferred Stock

Preferred stock is a class of shares that typically provides a fixed dividend and has priority over common stock in the event of a liquidation, but generally does not carry voting rights.

Deductible

An amount that can be subtracted from an individual's or organization's taxable income, thereby reducing the amount of tax owed.

Tax Deductible

Refers to a qualifying expense that can reduce an entity's taxable income, and thereby reduce its tax liability.