Using the Following Choices, Show the Justification for Each Provision

question 115

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.
-Use tax

• 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:

Define Measure Analyze Improve Control

A data-driven quality strategy for improving processes, part of Six Sigma methodology, focusing on defining the problem, measuring key aspects, analyzing data, improving by implementing solutions, and controlling future process performance.

DMAIC

Stands for Define, Measure, Analyze, Improve, and Control; a systematic, data-driven methodology used in Six Sigma projects to improve processes.

Lean

A systematic approach to identifying and eliminating waste through continuous improvement, promoting efficiency and effectiveness in processes.

Maximizing Profitability

Strategies and practices focused on increasing the difference between revenue and expenses to achieve the highest possible profit.