Match the Term with the Proper Response

question 59

Multiple Choice

Match the term with the proper response. There may be more than one responses for each term.

-AAA

• A) Gross receipts from royalties, passive rents, dividends, interest, etc.
• B) Penalty tax to stop an S corporation from avoiding the corporate tax on disposition of appreciated property.
• C) Cumulative total of undistributed non-separately and separately stated items.
• D) Tax-free distribution.
• E) Taxed as dividend income.

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Definitions:

Tradable Pollution Permits

Government-issued allowances that give the holder the right to emit a specific amount of pollutants; these permits can be bought and sold, creating a market for pollution control.

Emitted Emissions

The pollutants released into the environment as a byproduct of economic activity, such as manufacturing or transportation.

Mercury

A heavy, silvery d-block element that is the only metallic element that is liquid at standard conditions for temperature and pressure.

Tradable Pollution Permits

A market-based approach to controlling pollution by offering a limited number of permits that allow the holder to emit a certain amount of pollutants, which can be bought and sold.