WGU C237 (WGUC237)
Western Governors University
Page 2 out of 19 results
Sort by
-
WGU C237 Tax: Exam Questions With Correct Answers (Latest Update 2023/2024) 100% Verified Answers
- Exam (elaborations) • 39 pages • 2023
-
- $23.49
- + learn more
WGU C237 Tax: Exam Questions With Correct Answers (Latest Update 2023/2024) 100% Verified Answers. Two components of the tax calculation - correct answers tax base 
multiplied by the tax rate 
Characteristics of a "Tax" - correct answers >Payment required - NOT 
VOLUNTARY 
>Payment imposed by government agency (federal, state, local) 
>Payment not tied directly to benefit received by the taxpayer 
16th Amendment - correct answers removed all doubt that a federal 
income tax was allowe...
-
Bundle for WGU C237 Exams Compilation | Verified | Guaranteed Success
- Package deal • 7 items • 2023
-
- $40.49
- 1x sold
- + learn more
Bundle for WGU C237 Exams Compilation | Verified | Guaranteed Success
-
WGU C237 Taxation 1 Pre-Assessment | 70 Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 14 pages • 2023
- Available in package deal
-
- $15.49
- + learn more
What year was the U.S income tax on individuals permanently established? - 1913 
What is the highest level of legislative authority of tax law in the United States? - Internal 
Revenue Code 
What are two primary sources of tax law in the United States? - Court Decisions and 
Revenue Rulings 
What is a certainty when evaluating a tax system? - Taxes can be estimated if annual income 
is the same 
What is an example of equity when evaluating a tax system? - Each taxpayer pays a different 
amount b...
-
WGU C237 Taxation 1 Review Master Quiz | 90 Questions with 100% Correct Answers | Verified | Latest Update | 39 Pages
- Exam (elaborations) • 39 pages • 2023
- Available in package deal
-
- $24.49
- 1x sold
- + learn more
The largest source of revenues for the federal government comes from - individual income 
taxes. 
Arthur pays tax of $5,000 on taxable income of $50,000 while taxpayer Barbara pays tax of 
$12,000 on $120,000. The tax is a - proportional tax. 
Which of the following taxes is regressive? - Federal Insurance Contributions Act (FICA) 
Sarah contributes $25,000 to a church. Sarah's marginal tax rate is 35% while her average tax 
rate is 25%. After considering her tax savings, Sarah's contribution ...
-
WGU C237 Taxation I Review | 140 Questions with 100% Correct Answers | Verified | Latest Update | 20 Pages
- Exam (elaborations) • 20 pages • 2023
- Available in package deal
-
- $18.49
- + learn more
After the reinstatement of the individual federal income tax in 1894, why was the tax challenged 
in the courts? - Administration would be difficult since the tax was apportioned in proportion 
to state populations 
What are two primary sources of tax law in the United States? - Revenue Rulings, Court 
Decisions, Internal Revenue Code, Congressional Committee Reports, Income Tax Regulations, 
Revenue Procedures, and letter rulings 
What is a primary source of tax law in the United States? - Inte...
Fear of missing out? Then don’t!
-
WGU C237 Taxation I Pre-assessment | 80 Questions with 100% Correct Answers | Verified | Latest Update | 38 Pages
- Exam (elaborations) • 38 pages • 2023
- Available in package deal
-
- $24.49
- + learn more
After reinstatement of the individual federal income tax in 1894, why was the tax challenged in 
the courts? 
A. Revenue from taxes was no longer necessary because the Civil War was over. 
B. Administration would be difficult since the tax was apportioned in proportion to state 
populations. 
C. The preferred method of taxation was on business transactions as opposed to individual 
income tax. 
D. The U.S. Constitution failed to define the meaning of income which would arguably prevent 
consiste...
-
WGU C237 Taxation I Questions | 60 Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 13 pages • 2023
- Available in package deal
-
- $15.49
- + learn more
Describe the history of taxation in the US - 
1861 - to finance civil war 
1894 - Income tax reinstated but ruled unconstitutional 1895 
1913 - 16th amendment 
1940 - WWII mass tax 
1943 - pay as you go withholding 
1986 - Internal Revenue Code 
Identify the sources of tax law - 
Legislative Branch 
- Internal Revenue Code (Top) 
- Congressional Committee Reports 
Executive 
- Income Tax Regulations 
- Revenue Rulings 
- Revenue Procedures 
- Letter Rulings 
Judicial 
- Court Decisions 
Descri...
-
WGU C237 Taxation I Questions | 230 Questions with 100% Correct Answers | Verified | Latest Update | 42 Pages
- Exam (elaborations) • 42 pages • 2023
- Available in package deal
-
- $20.49
- + learn more
Define each component of the individual income tax formula - income from whatever source 
derived 
exclusions=any item of income that the tax laws says is not taxable 
gross income=all income received in cash, property, and services from whatever source derived 
and from which the taxpayer derives a direct economic benefit 
deductions for AGI=expense one would see on an income statement (wages, repairs, 
depreciation) and some nonbusiness deductions (alimony, moving expenses, IRA contributions) ...
-
WGU C237 Taxation Questions | Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 6 pages • 2023
- Available in package deal
-
- $9.49
- + learn more
What year was the US income tax on individuals permanently established? - 1913 
What is the second-highest level of legislative authority of tax law in the United States? - 
Internal Revenue Code 
In which publications does the IRS provide information on the tax consequences of specific 
transactions encountered in practice? - Revenue Rulings 
How are tax systems evaluated in terms of equity? - Each taxpayer pays a different amount 
based on their income level 
What is horizontal equity? - When ...
Do you wonder why so many students wear nice clothes, have money to spare and enjoy tons of free time? Well, they sell on Stuvia! Imagine your study notes being downloaded a dozen times for $15 each. Every. Single. Day. Discover all about earning on Stuvia