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:

Confirmation Bias

The predisposition to explore, decode, favor, and reminisce facts in a fashion that corroborates one's preconceived notions or speculations.

Certain Outcome

An outcome that is guaranteed or known to happen without any doubt.

Risky Outcome

A potential result of an action or decision that involves uncertainty and the possibility of negative consequences.

Historical Analogy

The practice of drawing comparisons between past and present events, situations, or decisions to understand or predict current phenomena.