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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 $15.49   Add to cart

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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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  • South-Western Federal Taxation 2025 By Young

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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  • October 24, 2024
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  • South-Western Federal Taxation 2025 by Young
  • South-Western Federal Taxation 2025 by Young
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TEST BANK
South-Western Federal Taxation 2025:
Corporations, Partnerships, Estates and Trusts 47th Edition
by Nellen & Young Chapters 1 - 20 BG




Page 1
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,TABLE OF CONTENTS BG BG BG




Part I: INTRODUCTION TO TAXATION AND BUSINESS ENTITIES.
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1. Understanding and Working with the Federal Tax Law.
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2. The Deduction for Qualified Business Income for Noncorporate Taxpayers.
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Part II: CORPORATIONS.
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3. Corporations: Introduction and Operating Rules.
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4. Corporations: Organization and Capital Structure.
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5. Corporations: Earnings & Profits and Dividend Distributions.
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6. Corporations: Redemptions and Liquidations.
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7. Corporations: Reorganizations.
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8. Consolidated Tax Returns.
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9. Taxation of International Transactions.
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Part III: FLOW-THROUGH ENTITIES.
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10. Partnerships: Formation, Operation, and Basis.
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11. Partnerships: Distributions, Transfer of Interests, and Terminations.
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12. S Corporations.
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Part IV: ADVANCED TAX PRACTICE CONSIDERATIONS.
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13. Comparative Forms of Doing Business.
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14. Taxes in the Financial Statements.
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15. Exempt Entities.
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16. Multistate Corporate Taxation.
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17. Tax Practice and Ethics.
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Part V: FAMILY TAX PLANNING.
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18. The Federal Gift and Estate Taxes.
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19. Family Tax Planning.
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20. Income Taxation of Trusts and Estates.
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Page 2
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,Chapter 01: Understanding and Working with the Federal Tax Law
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True / False
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1. Many states have balanced budgets because laws or constitutional amendments preclude deficit spending.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
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HAS VARIABLES:
BG False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
BG B G BG BG BG BG BG




NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
BG B G BG BG BG BG BG BG BG




STATE STANDARDS:
BG United States - TX - AICPA: FN-Measurement BG BG BG BG BG BG



United States - AK - AICPA: FN-Research BG BG BG BG BG BG




KEYWORDS: Bloom's: Remember BG




OTHER: Time: 2 min. BG BG




DATE CREATED:
BG 1/31/2024 10:55 AM BG BG




DATE MODIFIED:
BG 3/1/2024 1:43 PM BG BG




2. The U.S. Federal government has a provision in the Constitution that precludes deficit spending.
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a. True
b. False
ANSWER: False
RATIONALE: There is no such provision, and the national debt continues to grow. BG BG BG BG BG BG BG BG BG BG BG




POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
BG BG BG




HAS VARIABLES:
BG False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
BG B G BG BG BG BG BG




NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
BG B G BG BG BG BG BG BG BG




STATE STANDARDS:
BG United States - AK - AICPA: FN-Measurement BG BG BG BG BG BG




KEYWORDS: Bloom's: Remember BG




OTHER: Time: 2 min. BG BG




DATE CREATED:
BG 1/31/2024 10:55 AM BG BG




DATE MODIFIED:
BG 3/1/2024 1:43 PM BG BG




3. Revenue-neutral tax laws reduce deficits. BG BG BG BG



a. True
b. False
ANSWER: False
RATIONALE: They do not reduce deficits but do not aggravate the problem. BG BG BG BG BG BG BG BG BG BG




POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
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Page 3
BG

, Chapter 01: Understanding and Working with the Federal Tax La
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w
HAS VARIABLES:
BG False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1-01 - LO: 1-01
BG B G BG BG BG BG




NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
BG B G BG BG BG BG BG BG BG




STATE STANDARDS: BG United States - AK - AICPA: FN-Measurement BG BG BG BG BG BG




KEYWORDS: Bloom's: Remember BG




OTHER: Time: 2 min. BG BG




DATE CREATED:BG 1/31/2024 10:55 AM BG BG




DATE MODIFIED:
BG 3/1/2024 1:43 PM BG BG




4. Longer class lives for depreciable property and the required use of the straight-
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line method of depreciation would likelydampen the tax incentive for purchasing capital assets.
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G BG BG BG BG BG BG BG



a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: BGTrue / False BG BG




HAS VARIABLES:
BG False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
BG B G BG BG BG BG BG




NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
BG B G BG BG BG BG BG BG BG




STATE STANDARDS: BG United States - TX - AICPA: FN-Reporting BG BG BG BG BG BG



United States - AK - AICPA: FN-Research BG BG BG BG BG BG




KEYWORDS: Bloom's: Remember BG




OTHER: Time: 2 min. BG BG




DATE CREATED:BG 1/31/2024 10:55 AM BG BG




DATE MODIFIED:
BG 3/1/2024 1:43 PM BG BG




5. The Internal Revenue Code is a compilation of Federal tax legislation that appears in Title 26 of the United StatesCode.
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G



a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
BG BG BG




HAS VARIABLES:
BG False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
BG B G BG BG BG BG BG




NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
BG B G BG BG BG BG BG BG BG




STATE STANDARDS: BG United States - AK - AICPA: FN-Research BG BG BG BG BG BG



United States - TX - FN-Reporting BG BG BG BG BG




KEYWORDS: Bloom's: Remember BG




OTHER: Time: 2 min. BG BG




DATE CREATED:BG 1/31/2024 10:55 AM BG BG




DATE MODIFIED:
BG 3/1/2024 1:43 PM BG BG




Page 4
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