Q2VASolutions - ACCTG321 Spring2010 Quiz#2 VersionA 1.

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ACCTG 321 Spring 2010 Quiz #2 Version A 1. The goal of tax planning is tax minimization. a. True b. False [the goal of tax planning is maximization of after tax wealth (or cash flows)] 2. Which of the following strategies is based on the present value of money?  a. Timing b. Tax avoidance c. Income shifting d. Conversion e. None of the above 3.  If Lucy earns a 6% after-tax rate of return, $8,000 received in four years is worth how much today? a. $8,000 b. Less than $8,000 c. More than $8,000 d. Unable to determine 4. Which of the following does not limit the benefits of deferring income?  a. Increasing tax rates b. A taxpayer with severe cash flow needs c. If continuing an investment would generate a low rate of return
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ACCTG 321 Spring 2010 Quiz #2 Version A d. If continuing an investment would subject the taxpayer to unnecessary risk e. None of the above 5. The constructive receipt doctrine  a. Is particularly restrictive for accrual basis taxpayers b. Causes income to be recognized before it is actually received c. Causes income to be recognized after it is actually received
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This note was uploaded on 11/03/2010 for the course ACCTG 321 taught by Professor Will during the Spring '08 term at San Diego State.

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Q2VASolutions - ACCTG321 Spring2010 Quiz#2 VersionA 1.

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