Choose the One Most Appropriate Answer for Each

question 12

Multiple Choice

Choose the one most appropriate answer for each.
-a preferential income tax treatment on the sale of an appreciated asset before 1987

• A)adjusted sales price
• B)ad valorem tax
• C)amount realized
• D)appropriation process
• E)assessed value
• F)assessment appeal board
• G)assessment roll
• H)basis
• I)conveyance tax
• J)documentary tax
• K)front-foot basis
• L)improvement district
• M)installment method
• N)long-term capital gain
• O)mill rate
• P)public improvement
• Q)special assessments
• R)tax certificate
• S)tax deed
• T)tax lien

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Definitions:

Inflation

The rate of growth in the average cost of goods and services, which lowers the purchasing capacity.

Loses Value

A term referring to the decrease in worth of an asset or currency over time.

FDIC

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

Savings and Loan

Financial institutions that primarily promote savings and provide loans for housing.