Match the Definition with the Correct Term

question 63

Multiple Choice

Match the definition with the correct term.
-An individual who gives up U.S. citizenship to avoid U.S. income taxes.

• A)Expatriate
• B)Resident
• C)Nonresident alien
• D)U.S. trade or business
• E)Effectively connected income

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Definitions:

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Codes of Ethics

A set of guidelines designed to set out acceptable behaviors for members of a particular group, organization, or profession.

Mission Statements

Brief descriptions of a company's fundamental purpose and values, intended to guide its strategic planning and operations.

Company's Purpose

The fundamental reason a company exists, often defined by its mission statement or core values.