Q2VCSolutions - ACCTG321 Spring2010 Quiz#2 VersionC 1.

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ACCTG 321 Spring 2010 Quiz #2 Version C 1. The goal of tax planning generally is to:  a. Minimize taxes b. Minimize IRS scrutiny c. Maximize after-tax wealth d. Support the Federal government e. None of the above 2. Which is not a basic tax planning strategy?  a. income shifting b. timing c. conversion d. arms length transaction e. None of the above 3. Assuming a positive interest rate, the present value of money suggests:  a. $1 today = $1 in one year b. $1 today > $1 in one year c. $1 today < $1 in one year d. None of the above 4. Which of the following does not limit the benefits of deferring income? 
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ACCTG 321 Spring 2010 Quiz #2 Version C a. Increasing tax rates b. A taxpayer with severe cash flow needs c. If continuing an investment would generate a low rate of return 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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Q2VCSolutions - ACCTG321 Spring2010 Quiz#2 VersionC 1.

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