Match the Definition with the Correct Term

question 63

Short Answer

Match the definition with the correct term.
a.Foreign base company income
b.Foreign personal holding company income
c.U.S. shareholder
d.Previously taxed income
e.De minimis rule
f.Passive foreign investment company
-Exception that allows a controlled foreign corporation to earn small amounts of Subpart F income.

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Definitions:

Down Payment

An initial, upfront partial payment for the purchase of expensive items/services, typically associated with the purchase of a home or vehicle.

Freddie Mac

A public government-sponsored enterprise (GSE) that operates in the secondary mortgage market to increase the availability and affordability of home loans.

Fannie Mae

A government-sponsored enterprise established to expand the secondary mortgage market by making mortgages more accessible and affordable.

Federal Reserve's Monetary

Actions by the Federal Reserve to control the money supply and interest rates in an effort to regulate the economy.