Select Three Different Primary Sources, One from Each Area of Tax

question 16

Essay

Select three different primary sources, one from each area of tax law (legislative, administrative, and judicial), and provide a specific example of a source that is available in Checkpoint.

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Definitions:

Note Payable

A written promise to pay a specific sum of money, either on demand or at a fixed or determinable future time.

Dividend Declarations

Announcements by a company's board of directors to distribute a portion of earnings to shareholders as dividends.

Common Stock

This represents ownership shares in a corporation, giving shareholders voting rights and a claim on a portion of the company's profits in the form of dividends.

Additional Paid-In Capital

The amount of money paid by investors for shares of stock above their par value; it is a measure of the excess investment made by shareholders.