Using the Following Choices, Show the Justification for Each Provision

question 6

Multiple Choice

Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-Tax credits available for the purchase of a vehicle that uses alternative (nonfossil) fuels.

• A)Deferral of gains from involuntary conversions
• B)Carryforward of net operating losses
• C)"No change" is a possible result
• D)State income tax applied to a visiting nonresident
• E)IRS special agent
• F)Undoing the "piggyback" result
• G)Ideal budget goal as to new tax legislation
• H)Every state that has a general sales tax has one
• I)Imposed by all states and the Federal government
• J)Imposed by some states but not the Federal government
• K)Imposed only by the Federal government
• L)No correct match provided

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Definitions:

Statistical Significance

A measure that indicates whether the results of a study are likely not due to chance.

Scatterplot

A type of graph used in statistics to display values for typically two variables for a set of data, where each dot represents one observation.

Negative Correlation

A correlation between two variables where the growth of one inversely affects the decline of the other.

Statistical Significance

A measure indicating that the likelihood of the observed results occurring by chance is very low, typically used in hypothesis testing to validate study findings.