================================================== ACCT 553 Week 3 Homework ES ( Quiz Set 2 )
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4 . ( TCO A ) Which of the following constitutes tax evasion ? 5 . ( TCO C ) Which of the following items is not subject to federal income tax ? 6 . ( TCO B ) Sam owes Bob $ 8,000 . Bob cancels ( forgives ) the debt . The cancellation is not a gift , and Sam is bankrupt . Which of the following statements is correct concerning the impact of this transaction ? 7 . ( TCO I ) Johnny , a cash basis taxpayer , owns two rental properties . Based on the following information , compute the amount that he must include in his 2012 gross rental income . 8 . ( TCO F ) Section 197 ' s intangible assets , such as patents and trademarks , are amortized for tax purposes over : 9 . ( TCO E ) Explain the constructive receipt doctrine . 10 . ( TCO G ) Answer the following questions concerning the sources of tax law .
================================================== ACCT 553 Week 3 Homework ES ( Quiz Set 2 )
For more course tutorials visit www . uophelp . com
1 . A business bad debt is deductible for tax purposes as a ( n ): Your Answer :
2 . Which of the following items is not subject to federal income tax ?
3 . Sam owes Bob $ 8,000 . Bob cancels ( forgives ) the debt . The cancellation is not a gift and Sam is neither insolvent nor bankrupt . Which of the following statements is correct concerning the impact of this transaction ?