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TEST BANK For Taxation for Decision Makers 2020/ 2025, 10th Edition by Shirley Dennis-Escoffier, Karen A. Fortin, Chapter 1 - 12 (Verified by Experts) A+ $8.99   Add to cart

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TEST BANK For Taxation for Decision Makers 2020/ 2025, 10th Edition by Shirley Dennis-Escoffier, Karen A. Fortin, Chapter 1 - 12 (Verified by Experts) A+

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TEST BANK For Taxation for Decision Makers 2020/ 2025, 10th Edition by Shirley Dennis-Escoffier, Karen A. Fortin, Chapter 1 - 12 (Verified by Experts) A+

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  • October 17, 2024
  • 441
  • 2024/2025
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Chapter 1 Summary of Testbank Revisions
2019 Edition 2018 Edition 2019 Edition Modification
Problem Number Problem Number
True-False 1 True-False 1
True-False 2 True-False 2
True-False 3 True-False 3
True-False 4 True-False 4
True-False 5 True-False 5
True-False 6 True-False 6
True-False 7 True-False 7 Problem modified
True-False 8 True-False 8
True-False 9 True-False 9
True-False 10 True-False 10
True-False 11 True-False 11
True-False 12 True-False 12
True-False 13 True-False 13
True-False 14 True-False 14
True-False 15 True-False 15 Problem and solution modified
True-False 16 True-False 16
True-False 17 True-False 17
Short Answer 1 Short Answer 1
Short Answer 2 Short Answer 2
Short Answer 3 Short Answer 3
Short Answer 4 Short Answer 4 Solution modified
Short Answer 5 Short Answer 5
Short Answer 6 Short Answer 6
Short Answer 7 Short Answer 7 Solution modified
Short Answer 8 Short Answer 8
Short Answer 9 Short Answer 9
Short Answer 10 Short Answer 10
Problem 1 Problem 1 Problem and solution modified
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Problem 7 Problem 7
Problem 8 Problem 8 Problem and solution modified
Problem 9 Problem 9 Problem and solution modified
Other Objective a Other Objective a
Other Objective b Other Objective b
Other Objective c Other Objective c
Other Objective d Other Objective d



1

, Chapter 1: Introduction to Taxation 2



Other Objective e Other Objective e
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Other Objective g Other Objective g
Other Objective h Other Objective h
Other Objective i Other Objective i
Other Objective j Other Objective j
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, Chapter 1: Introduction to Taxation 3



Multiple Choice 40 Multiple Choice 40 Problem and solution modified
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Multiple Choice 42 - New Problem
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Multiple Choice 42 Deleted

, Chapter 1: Introduction to Taxation 4




Chapter 1
Introduction to Taxation

Note to Instructor: The reference tables in the appendix of the text may be required for a limited number
of answers to the questions and problems in this chapter. This is indicated by ―REFERENCE TABLES
REQUIRED‖ after the learning objective.

True-False: Insert T for True and F for False before the questions.

1. A hidden tax is one that is included with a payment but not specifically identified.

ANSWER True LO 1.1
DIFFICULTY: Easy

2. Both sales and use taxes are collected in the state in which the sale takes place.

ANSWER False LO 1.1
DIFFICULTY: Easy

3. The person receiving the gift pays the gift tax.

ANSWER False LO 1.1
DIFFICULTY: Easy

4. The value added tax is a type of consumption tax.

ANSWER True LO 1.1
DIFFICULTY: Easy

5. The type and degree of connection between a business and a state necessary for a state to
impose a tax is referred to as nexus.

ANSWER True LO 1.1
DIFFICULTY: Easy

6. The 13th Amendment to the US Constitution that provided for an income tax was ratified in
1916.

ANSWER False LO 1.1
DIFFICULTY: Easy

7. Any current changes to the tax laws are now amendments to the Internal Revenue Code of
2018.

ANSWER False LO 1.1
DIFFICULTY: Easy

8. A flat tax generally would be considered a regressive tax.

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