Test Bank For South-Western Federal Taxation
2025,Corporations, Partnerships, Estates And Trusts 48th
Edition By Nellen LATEST EDITION 2026
,
,Test Bank South-Western Federal Taxation 2025: Corporations, Partnerships, Estates
And Trusts By Nellen
Chapter 01: Understanding And Working With The Federal Tax Law
True / False
1. Many States Have Balanced Budgets Because Laws Or Constitutional Amendments Preclude Deficit Spending.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - TX - AICPA: FN-Measurement
United States - AK - AICPA: FN-Research
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
2. The U.S. Federal Government Has A Provision In The Constitution That Precludes Deficit Spending.
a. True
b. False
ANS: False
RATIONALE: There Is No Such Provision, And The National Debt Continues To Grow.
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Measurement
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
3. Revenue-Neutral Tax Laws Reduce Deficits.
a. True
b. False
ANS: False
RATIONALE: They Do Not Reduce Deficits But Do Not Aggravate The Problem.
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
Page 1
, Chapter 01: Understanding and Working with the Federal Tax Law
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1-01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Measurement
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
4. Longer Class Lives For Depreciable Property And The Required Use Of The Straight-Line Method Of Depreciation
Would Likely Dampen The Tax Incentive For Purchasing Capital Assets.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - TX - AICPA: FN-Reporting
United States - AK - AICPA: FN-Research
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
5. The Internal Revenue Code Is A Compilation Of Federal Tax Legislation That Appears In Title 26 Of The United
States Code.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Research
United States - TX - FN-Reporting
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
Page 2
2025,Corporations, Partnerships, Estates And Trusts 48th
Edition By Nellen LATEST EDITION 2026
,
,Test Bank South-Western Federal Taxation 2025: Corporations, Partnerships, Estates
And Trusts By Nellen
Chapter 01: Understanding And Working With The Federal Tax Law
True / False
1. Many States Have Balanced Budgets Because Laws Or Constitutional Amendments Preclude Deficit Spending.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - TX - AICPA: FN-Measurement
United States - AK - AICPA: FN-Research
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
2. The U.S. Federal Government Has A Provision In The Constitution That Precludes Deficit Spending.
a. True
b. False
ANS: False
RATIONALE: There Is No Such Provision, And The National Debt Continues To Grow.
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Measurement
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
3. Revenue-Neutral Tax Laws Reduce Deficits.
a. True
b. False
ANS: False
RATIONALE: They Do Not Reduce Deficits But Do Not Aggravate The Problem.
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
Page 1
, Chapter 01: Understanding and Working with the Federal Tax Law
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1-01 - LO: 1-01
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Measurement
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
4. Longer Class Lives For Depreciable Property And The Required Use Of The Straight-Line Method Of Depreciation
Would Likely Dampen The Tax Incentive For Purchasing Capital Assets.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - TX - AICPA: FN-Reporting
United States - AK - AICPA: FN-Research
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
5. The Internal Revenue Code Is A Compilation Of Federal Tax Legislation That Appears In Title 26 Of The United
States Code.
a. True
b. False
ANS: True
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CPET.SWFT.2025.LO: 1 02 - LO: 1-02
NATIONAL STANDARDS: United States - BUSPROG: Comprehension - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA: FN-Research
United States - TX - FN-Reporting
KEYWORDS: Bloom's: Remember
OTHER: Time: 2 Min.
DATE CREATED: 1/31/2024 10:55 AM
DATE MODIFIED: 3/1/2024 1:43 PM
Page 2