Congress Recently Approved a New, Smaller Budget for the IRS

question 5

Multiple Choice

Congress recently approved a new, smaller budget for the IRS. What taxation concept evaluates the cost of administering our tax law?

• A)Convenience
• B)Economy
• C)Certainty
• D)Equity
• E)None of the choices are correct

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Definitions:

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.

Suggest Changes

The act of proposing adjustments or modifications to ideas, processes, or behaviors to improve or resolve a situation.

Hierarchy of Needs

A psychological theory proposed by Abraham Maslow that is often depicted as a pyramid with physiological needs at the base, ascending through safety, love/belonging, esteem, to self-actualization at the top.

Physiological Needs

The most basic of Maslow’s hierarchy of needs having to do with the satisfaction of physical needs, including food and shelter.