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Test Bank for South-Western Federal Taxation 2025: Corporations, Partnerships, Estates and Trusts 48th Edition by Nellen & Young, ISBN: 9780357989074, All 20 Chapters Covered, Verified Latest Edition $15.99
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Test Bank for South-Western Federal Taxation 2025: Corporations, Partnerships, Estates and Trusts 48th Edition by Nellen & Young, ISBN: 9780357989074, All 20 Chapters Covered, Verified Latest Edition
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Test Bank for South-Western Federal Taxation 2025: Corporations, Partnerships, Estates and Trusts 48th Edition by Nellen & Young, ISBN: 978, All 20 Chapters Covered, Verified Latest Edition Test Bank for South-Western Federal Taxation 2025: Corporations, Partnerships, Estates and Trusts 48th Editio...

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  • November 7, 2024
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TEST BANK
South-Western Federal Taxation 2025:
Corporations, Partnerships, Estates and Trusts 47th Edition
by Nellen & Young Chapters 1 - 20




Pages1

,TABLE OF CONTENTS
s s s




PartsI:sINTRODUCTIONsTOsTAXATIONsANDsBUSINESSsENTITIES.
1.sUnderstandingsandsWorkingswithsthesFederalsTaxsLaw.
2.sThesDeductionsforsQualifiedsBusinesssIncomesforsNoncorporatesTaxpayers.
PartsII:sCORPORATIONS.
3.sCorporations:sIntroductionsandsOperatingsRules.
4.sCorporations:sOrganizationsandsCapitalsStructure.
5.sCorporations:sEarningss&sProfitssandsDividendsDistributions.
6.sCorporations:sRedemptionssandsLiquidations.
7.sCorporations:sReorganizations.
8.sConsolidatedsTaxsReturns.
9.sTaxationsofsInternationalsTransactions.
PartsIII:sFLOW-THROUGHsENTITIES.
10.sPartnerships:sFormation,sOperation,sandsBasis.
11.sPartnerships:sDistributions,sTransfersofsInterests,sandsTerminations.
12.sSsCorporations.
PartsIV:sADVANCEDsTAXsPRACTICEsCONSIDERATIONS.
13.sComparativesFormssofsDoingsBusiness.
14.sTaxessinsthesFinancialsStatements.
15.sExemptsEntities.
16.sMultistatesCorporatesTaxation.
17.sTaxsPracticesandsEthics.
PartsV:sFAMILYsTAXsPLANNING.
18.sThesFederalsGiftsandsEstatesTaxes.
19.sFamilysTaxsPlanning.
20.sIncomesTaxationsofsTrustssandsEstates.


Pages2

,Chapters01:sUnderstandingsandsWorkingswithsthesFederalsTaxsLaw
Trues/sFalse

1. Manysstatesshavesbalancedsbudgetssbecauseslawssorsconstitutionalsamendmentssprecludesdeficitsspending.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONsTYPE: Trues/sFalse
HASsVARIABLES: False
LEARNINGsOBJECTIVES:s CPET.SWFT.2025.LO:s1s 01s-sLO:s1-01
NATIONALsSTANDARDS:s UnitedsStatess-sBUSPROG:sComprehensions-sBUSPROG:sComprehension
STATEsSTANDARDS: UnitedsStatess-sTXs-sAICPA:sFN-Measurement
UnitedsStatess-sAKs-sAICPA:sFN-Research
KEYWORDS: Bloom's:sRemember
OTHER: Time:s2smin.
DATEsCREATED: 1/31/2024s10:55sAM
DATEsMODIFIED: 3/1/2024s1:43sPM

2. ThesU.S.sFederalsgovernmentshassasprovisionsinsthesConstitutionsthatsprecludessdeficitsspending.
a. True
b. False
ANSWER: False
RATIONALE: Theresissnossuchsprovision,sandsthesnationalsdebtscontinuesstosgrow.
POINTS: 1
DIFFICULTY: Easy
QUESTIONsTYPE: Trues/sFalse
HASsVARIABLES: False
LEARNINGsOBJECTIVES:s CPET.SWFT.2025.LO:s1s 01s-sLO:s1-01
NATIONALsSTANDARDS:s UnitedsStatess-sBUSPROG:sComprehensions-sBUSPROG:sComprehension
STATEsSTANDARDS: UnitedsStatess-sAKs-sAICPA:sFN-Measurement
KEYWORDS: Bloom's:sRemember
OTHER: Time:s2smin.
DATEsCREATED: 1/31/2024s10:55sAM
DATEsMODIFIED: 3/1/2024s1:43sPM

3. Revenue-neutralstaxslawssreducesdeficits.
a. True
b. False
ANSWER: False
RATIONALE: Theysdosnotsreducesdeficitssbutsdosnotsaggravatesthesproblem.
POINTS: 1
DIFFICULTY: Easy
QUESTIONsTYPE: Trues/sFalse



Pages3

, Chapters01:sUnderstandingsandsWorkingswithsthesFederalsTaxsLaw
HASsVARIABLES: False
LEARNINGsOBJECTIVES:s CPET.SWFT.2025.LO:s1-01s-sLO:s1-01
NATIONALsSTANDARDS:s UnitedsStatess-sBUSPROG:sComprehensions-sBUSPROG:sComprehension
STATEsSTANDARDS: UnitedsStatess-sAKs-sAICPA:sFN-Measurement
KEYWORDS: Bloom's:sRemember
OTHER: Time:s2smin.
DATEsCREATED: 1/31/2024s10:55sAM
DATEsMODIFIED: 3/1/2024s1:43sPM

4. Longersclassslivessforsdepreciablespropertysandsthesrequiredsusesofsthesstraight-
linesmethodsofsdepreciationswouldslikelysdampensthestaxsincentivesforspurchasingscapitalsassets.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONsTYPE: Trues/sFalse
HASsVARIABLES: False
LEARNINGsOBJECTIVES:s CPET.SWFT.2025.LO:s1s 02s-sLO:s1-02
NATIONALsSTANDARDS:s UnitedsStatess-sBUSPROG:sComprehensions-sBUSPROG:sComprehension
STATEsSTANDARDS: UnitedsStatess-sTXs-sAICPA:sFN-Reporting
UnitedsStatess-sAKs-sAICPA:sFN-Research
KEYWORDS: Bloom's:sRemember
OTHER: Time:s2smin.
DATEsCREATED: 1/31/2024s10:55sAM
DATEsMODIFIED: 3/1/2024s1:43sPM

5. ThesInternalsRevenuesCodesissascompilationsofsFederalstaxslegislationsthatsappearssinsTitles26sofsthesUnitedsStatessCode.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONsTYPE: Trues/sFalse
HASsVARIABLES: False
LEARNINGsOBJECTIVES:s CPET.SWFT.2025.LO:s1s 02s-sLO:s1-02
NATIONALsSTANDARDS:s UnitedsStatess-sBUSPROG:sComprehensions-sBUSPROG:sComprehension
STATEsSTANDARDS: UnitedsStatess-sAKs-sAICPA:sFN-Research
UnitedsStatess-sTXs-sFN-Reporting
KEYWORDS: Bloom's:sRemember
OTHER: Time:s2smin.
DATEsCREATED: 1/31/2024s10:55sAM
DATEsMODIFIED: 3/1/2024s1:43sPM


Pages4

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