Match Each Term with the Correct Statement Below

question 44

Multiple Choice

Match each term with the correct statement below.
-Calendar year

• A)Allocates income, losses, and deductions to its owners for inclusion in their personal returns.
• B)Each tax unit must keep separate records and report the results of its operations separate and apart from other tax units.
• C)Income from services must be taxed to the taxpayer rendering the service and income from property must be taxed to the owner of the property.
• D)Any tax year that ends on the last day of a month other than December.
• E)All taxpayers must report the results of their operations on an annual basis.
• F)A tax year that ends on December 31.
• G)A tax entity that is liable for the payment of tax.

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Definitions:

Contraception

Techniques or instruments designed to avoid conception following sexual activity.

Ignorance

A lack of knowledge, understanding, or information about something.

Alcohol Use

The consumption of beverages that contain ethanol, ranging from moderate drinking to alcohol abuse.

Sexual Infidelity

The act of being unfaithful in a sexual sense in a committed relationship, breaching an expectation of sexual exclusivity.