Clouds of Vertical Development Include the Type Called ________

question 145

Multiple Choice

Clouds of vertical development include the type called ________.

• A) cirrus
• B) cumulonimbus
• C) stratocumulus
• D) altocumulus
• E) fog

---

Definitions:

Net Capital Loss

The result when the total capital losses from investments exceed the total capital gains in a tax year.

Net Capital Gain

The profit from the sale of an asset or investment, subtracted by any losses from sales in the same tax year.

AMT

Short for Alternative Minimum Tax, a parallel tax system designed to ensure that individuals and corporations pay at least a minimum amount of tax.

AMT Income

Income calculated for the Alternative Minimum Tax, which includes certain adjustments and preferences to regular taxable income.