Which of the following statements is (are) correct? (x) Part of the administrative burden of a tax is the cost of implementing and administering government programs that use the tax revenue that is collected (y) A tax loophole occurs when tax laws give preferential treatment to specific types of behavior. (z) A mortgage interest deduction would be considered a tax loophole because it allows home purchasers to reduce their tax liability when they pay mortgage interest. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (y) only
Which of the following statements is (are) correct? (x) Part of the administrative burden of a tax is the cost of implementing and administering government programs that use the tax revenue that is collected (y) A tax loophole occurs when tax laws give preferential treatment to specific types of behavior. (z) A mortgage interest deduction would be considered a tax loophole because it allows home purchasers to reduce their tax liability when they pay mortgage interest. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (y) only
Chapter1: An Introducti On To Taxation And Understa Nding The Federal Tax Law
Section: Chapter Questions
Problem 28DQ
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Question
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Which of the following statements is (are) correct?
-
(x) Part of the administrative burden of a tax is the cost of implementing and administering government
programs that use the tax revenue that is collected
-
(y) A tax loophole occurs when tax laws give preferential treatment to specific types of behavior.
-
(z) A mortgage interest deduction would be considered a tax loophole because it allows home purchasers to
reduce their tax liability when they pay mortgage interest.
-
A. (x), (y) and (z)
B. (x) and (y) only
C. (x) and (z) only
D. (y) and (z) only
E. (y) only
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