Match Each Term with the Correct Statement Below

question 33

Multiple Choice

Match each term with the correct statement below.
-The excess of the selling price of an asset over its tax basis.

• A)Ad valorem tax
• B)Deduction
• C)Excise tax
• D)Exclusion
• E)Expense
• F)Gain
• G)Loss
• H)Ordinary income
• I)Pay-as-you-go concept
• J)Personal property
• K)Real property
• L)Self-assessment
• M)Standard deduction
• N)Statute of limitations
• O)Tax base
• P)Tax credit

Differentiating between active and inactive files.

Know the process of indexing, coding, and cross-referencing documents for filing.

Master the final steps in the filing process and the importance of storage.

Identify the essential features and considerations for storing files and choosing storage facilities.

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Definitions:

Guide Studs

Rods or pins used to align parts during assembly or to provide a guiding support for moving parts.

Splined Pilot Shaft

A shaft featuring a series of ridges or teeth that allow it to lock into another component, ensuring a precise alignment or transfer of motion.

Clutch Assembly

A mechanical device that engages and disengages power transmission, especially from a drive shaft to a driven shaft, allowing for smooth shifts between gears in a vehicle.

Drive Side

The side of a vehicle where the driving controls are located, which varies from country to country; also refers to the side of equipment receiving power.