A Validator Scans the _________ Statement to See Which Version

question 85

Short Answer

A validator scans the _________ statement to see which version of HTML or XHTML is being used, and then checks to see if the code is valid for that version.

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Definitions:

Passive Activity

Economic activities in which the taxpayer does not materially participate, often producing income subject to special tax rules.

Materially Participate

Involvement in the operations of a business or activity in a regular, continuous, and substantial way, affecting the tax consequences.

AMT Tax Rate

The percentage applied to compute the Alternative Minimum Tax, ensuring that taxpayers pay a minimum amount of tax.

Qualified Nonrecourse Financing

Debt financing for which the borrower is not personally liable and which is secured by real property used in the borrower’s trade or business.