Which of the Following Is Not One of the General

question 36

Multiple Choice

Which of the following is not one of the general tax credit categories?

• A)Nonrefundable personal
• B)Refundable personal
• C)Business
• D)Refundable business

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Definitions:

Unforeseen Difficulties

Challenges or problems that were not anticipated or expected at the outset of a project or agreement.

Preexisting Duty Rule

A legal doctrine stating that a promise to perform something the promisor is already legally obligated to do is not consideration for a new contract.

Adequacy of Consideration

Pertains to the fairness of the value exchanged in a contractual agreement, often examined in legal disputes over contract validity.

Legally Sufficient

Having the requisite form, substance, and detail to comply with the law and withstand legal scrutiny.