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WGU C239 PA TEST QUESTIONS WITH VERIFIED SOLUTIONS
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WGU C239 PA TEST QUESTIONS WITH VERIFIED SOLUTIONS
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WGU C239 PATEST QUESTIONS
WITH VERIFIED
SOLUTIONS
An individual has taxable income of $60,000.
The first $20,000 is taxed at 20%, the next
$20,000 is taxed at 20%, and all income
above $40,000 is taxed at 20%.Which tax
structure is being applied to the individual's
taxable income?
Base
Regressive
Progressive
Proportional - answer Proportional
Which federal income tax structure imposes
an increasing marginal tax rate as the tax
base increases?
,Regressive tax
Incremental tax
Progressive tax
Proportional tax - answer Progressive
What would a graph look like for Progressive,
Proportional, Incremental, and Regressive
tax structures? - answer Progressive-
ascending
Proportional- flat line
Incremental- stair-steps
Regressive- descending
What describes a gift tax?
Tax on the retail sale of particular products
Tax on the fair market value of wealth
transfers
Tax on the retail price of goods and services
Tax on income earned by an individual -
answer Tax on the fair market value of
wealth transfers
,What is a key element of an economy tax
structure?
Attracts and stimulates investment
Helps ensure equality and ability to pay
Assists in reducing unemployment and
inflation
Requires minimal compliance and
administration costs - answer Requires
minimal compliance and administration costs
Which objective of the federal tax law
requires that a good tax system minimizes
the compliance and administration costs?
Equity
Convenience
Certainty
Economy - answer Economy
Consider how the tax burden should be
distributed across taxpayers - answer
Questions of Equity
, Means taxpayers should be able to determine
when, where, and how much to pay - answer
Certainty
A tax system should minimize compliance
and administration costs - answer
Convenience
Which partnership item would flow through
to an individual's tax return?
Capital gains
Gross income
Partnership exemptions
Dividends received deduction - answer
Capital Gains
An Eleventh Circuit client who files in the U.S.
Court of Federal Claims wants to know
whether to include the terms of multiple
options to renew a sale-leaseback to
calculate a deduction.
What is the authoritative reference?
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