The National Priority List Is a List of Sites That

question 7

Multiple Choice

The National Priority List is a list of sites that

• A) we currently have money to deal with.
• B) deserve research for possible cleanup.
• C) will probably never be cleaned up.
• D) seriously require cleanup to prevent further environmental and health damage.
• E) are especially vulnerable to hazardous wastes and are not available for future building permits.

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Definitions:

Cash-Basis Taxpayer

An individual or entity that reports income and deductions in the year that cash is received or paid, respectively.

Account Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Bad Debt

A financial loss that occurs when a debtor fails to repay a loan or credit extended, considered non-recoverable and potentially eligible for a tax deduction.

Professional Gambler

Professional Gambler is an individual for whom gambling is considered a trade or business, allowing them to deduct losses and expenses related to their gambling activities as business expenses.