Pearson's Federal Taxation 2018 Individuals (Prentice Hall's Federal Taxation Individuals) 31st Edition Test Bank

Perfect your exam skills with Pearson's Federal Taxation 2018 Individuals (Prentice Hall's Federal Taxation Individuals) 31st Edition Test Bank, which features a range of MCQs and in-depth solutions.

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1Pearson's Federal Taxation 2018: Individuals, 31e(Pope et al.)Chapter I1: An Introduction to TaxationLO1: History of Taxation in the United States1) The federal income tax is the dominant form of taxation by the federal government.Answer: TRUEExplanation: The federal income tax provides more revenues than any other tax.Page Ref.: I:1-2Objective: 12) The Sixteenth Amendment to the U.S. Constitution permits the passage of a federal incometax law.Answer: TRUEExplanation: The Sixteenth Amendment amended the Constitution to permit the imposition ofan income tax.Page Ref.: I:1-2Objective: 13) When a change in the tax law is deemed necessary by Congress, the entire Internal RevenueCode must be revised.Answer: FALSEExplanation: The federal income tax law is changed on an incremental basis.Page Ref.: I:1-3Objective: 14) The largest source of federal revenues is the corporate income tax.Answer: FALSEExplanation: The largest source is the individual income tax.Page Ref.: I:1-3Objective: 15) Until about 100 years ago, attempts to impose a federal income tax were ruledunconstitutional. The amendment to the U.S. Constitution allowing the imposition of a federalincome tax is theA) Second Amendment.B) Thirteenth Amendment.C) Sixteenth Amendment.D) Nineteenth Amendment.Answer: CExplanation: C) The Sixteenth Amendment, ratified in 1913, gave Congress the power toimpose a federal income tax.Page Ref.: I:1-2Objective: 1

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Pearson's Federal Taxation Individu...

Pearson's Federal Taxation 2018 Individuals (Prentice Hall's Federal Taxation Individuals) 31st Edition Test Bank

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