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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 $16.49   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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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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  • September 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




Pagex1

,TABLE OF CONTENTS x x x




Part I: INTRODUCTION TO TAXATION AND BUSINESS ENTITIES.
x x x x x x x



1. Understanding and Working with the Federal Tax Law.
x x x x x x x x



2. The Deduction for Qualified Business Income for Noncorporate Taxpayers.
x x x x x x x x x



Part II: CORPORATIONS.
x x



3. Corporations: Introduction and Operating Rules.
x x x x x



4. Corporations: Organization and Capital Structure.
x x x x x



5. Corporations: Earnings & Profits and Dividend Distributions.
x x x x x x x



6. Corporations: Redemptions and Liquidations.
x x x x



7. Corporations: Reorganizations.
x x



8. Consolidated Tax Returns.
x x x



9. Taxation of International Transactions.
x x x x



Part III: FLOW-THROUGH ENTITIES.
x x x



10. Partnerships: Formation, Operation, and Basis.
x x x x x



11. Partnerships: Distributions, Transfer of Interests, and Terminations.
x x x x x x x



12. S Corporations.
x x



Part IV: ADVANCED TAX PRACTICE CONSIDERATIONS.
x x x x x



13. Comparative Forms of Doing Business.
x x x x x



14. Taxes in the Financial Statements.
x x x x x



15. Exempt Entities.
x x



16. Multistate Corporate Taxation.
x x x



17. Tax Practice and Ethics.
x x x x



Part V: FAMILY TAX PLANNING.
x x x x



18. The Federal Gift and Estate Taxes.
x x x x x x



19. Family Tax Planning.
x x x



20. Income Taxation of Trusts and Estates.
x x x x x x




Pagex2

,Chapter 01: Understanding and Working with the Federal Tax Law
x x x x x x x x x



Truex/xFalse

1. Manyxstatesxhavexbalancedxbudgetsxbecausexlawsxorxconstitutionalxamendmentsxprecludexdeficitxspending.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONxTYPE: Truex/xFalse
HASxVARIABLES: False
LEARNINGxOBJECTIVES:x CPET.SWFT.2025.LO:x1x 01x-xLO:x1-01
NATIONALxSTANDARDS:x UnitedxStatesx-xBUSPROG:xComprehensionx-xBUSPROG:xComprehension
STATExSTANDARDS: UnitedxStatesx-xTXx-xAICPA:xFN-Measurement
UnitedxStatesx-xAKx-xAICPA:xFN-Research
KEYWORDS: Bloom's:xRemember
OTHER: Time:x2xmin.
DATExCREATED: 1/31/2024x10:55xAM
DATExMODIFIED: 3/1/2024x1:43xPM

2. ThexU.S.xFederalxgovernmentxhasxaxprovisionxinxthexConstitutionxthatxprecludesxdeficitxspending.
a. True
b. False
ANSWER: False
RATIONALE: Therexisxnoxsuchxprovision,xandxthexnationalxdebtxcontinuesxtoxgrow.
POINTS: 1
DIFFICULTY: Easy
QUESTIONxTYPE: Truex/xFalse
HASxVARIABLES: False
LEARNINGxOBJECTIVES:x CPET.SWFT.2025.LO:x1x 01x-xLO:x1-01
NATIONALxSTANDARDS:x UnitedxStatesx-xBUSPROG:xComprehensionx-xBUSPROG:xComprehension
STATExSTANDARDS: UnitedxStatesx-xAKx-xAICPA:xFN-Measurement
KEYWORDS: Bloom's:xRemember
OTHER: Time:x2xmin.
DATExCREATED: 1/31/2024x10:55xAM
DATExMODIFIED: 3/1/2024x1:43xPM

3. Revenue-neutralxtaxxlawsxreducexdeficits.
a. True
b. False
ANSWER: False
RATIONALE: Theyxdoxnotxreducexdeficitsxbutxdoxnotxaggravatexthexproblem.
POINTS: 1
DIFFICULTY: Easy
QUESTIONxTYPE: Truex/xFalse



Pagex3

, Chapter 01: Understanding and Working with the Federal Tax Law
x x x x x x x x x



HASxVARIABLES: False
LEARNINGxOBJECTIVES:x CPET.SWFT.2025.LO:x1-01x-xLO:x1-01
NATIONALxSTANDARDS:x UnitedxStatesx-xBUSPROG:xComprehensionx-xBUSPROG:xComprehension
STATExSTANDARDS: UnitedxStatesx-xAKx-xAICPA:xFN-Measurement
KEYWORDS: Bloom's:xRemember
OTHER: Time:x2xmin.
DATExCREATED: 1/31/2024x10:55xAM
DATExMODIFIED: 3/1/2024x1:43xPM

4. Longerxclassxlivesxforxdepreciablexpropertyxandxthexrequiredxusexofxthexstraight-
linexmethodxofxdepreciationxwouldxlikelyxdampenxthextaxxincentivexforxpurchasingxcapitalxassets.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONxTYPE: Truex/xFalse
HASxVARIABLES: False
LEARNINGxOBJECTIVES:x CPET.SWFT.2025.LO:x1x 02x-xLO:x1-02
NATIONALxSTANDARDS:x UnitedxStatesx-xBUSPROG:xComprehensionx-xBUSPROG:xComprehension
STATExSTANDARDS: UnitedxStatesx-xTXx-xAICPA:xFN-Reporting
UnitedxStatesx-xAKx-xAICPA:xFN-Research
KEYWORDS: Bloom's:xRemember
OTHER: Time:x2xmin.
DATExCREATED: 1/31/2024x10:55xAM
DATExMODIFIED: 3/1/2024x1:43xPM

5. ThexInternalxRevenuexCodexisxaxcompilationxofxFederalxtaxxlegislationxthatxappearsxinxTitlex26xofxthexUnitedxStatesxCode.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
QUESTIONxTYPE: Truex/xFalse
HASxVARIABLES: False
LEARNINGxOBJECTIVES:x CPET.SWFT.2025.LO:x1x 02x-xLO:x1-02
NATIONALxSTANDARDS:x UnitedxStatesx-xBUSPROG:xComprehensionx-xBUSPROG:xComprehension
STATExSTANDARDS: UnitedxStatesx-xAKx-xAICPA:xFN-Research
UnitedxStatesx-xTXx-xFN-Reporting
KEYWORDS: Bloom's:xRemember
OTHER: Time:x2xmin.
DATExCREATED: 1/31/2024x10:55xAM
DATExMODIFIED: 3/1/2024x1:43xPM


Pagex4

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