Allowing a Taxpayer to Choose Either a Credit or a Deduction

question 70

True/False

Allowing a taxpayer to choose either a credit or a deduction for foreign taxes paid can be explained by equity considerations.

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Definitions:

Dense

Having a high mass per unit volume; closely compacted in substance.

Arête

A sharp, narrow ridge found in rugged mountains, formed by the erosion of two glaciers side by side.

Depression

In geology, a landform sunk below its surroundings, forming a low area which can be natural or man-made.

Valley

A low area between hills or mountains, typically with a river running through it.