The Internal Revenue Code Was First Codified in What Year

question 21

Multiple Choice

The Internal Revenue Code was first codified in what year?

• A)1913
• B)1923
• C)1939
• D)1954
• E)1986

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Definitions:

Lending Money

The act of giving money to another party with the expectation of receiving the money back plus interest or other benefits.

Collecting Loans

The process of obtaining repayment of a loan or debt, including the principal and any accrued interest.

Investing Activities

Financial activities related to the acquisition and disposal of long-term assets and other investments not considered as cash equivalents.

Financing Activities

Financial transactions primarily involved with funding the company and its capital structure, including issuing debt, paying off debt, and equity transactions.