A cancellation of debt being included in income
results if the.......
A. Canceled debt was intended as a gift
B. Debtor was insolvent by more than the amount of the canceled
debt.
C. Debtor was solvent at the time of debt cancellation.
D. Debt was canceled through a chapter 7 bankruptcy
Choose the correct answer to complete the following sentence.
Income from cancellation of debt:
Is only excluded from income if the buyer is insolvent.
Is not excludable from income if the buyer is insolvent.
May be excluded to the extent the buyer has negative net
worth.
Is taxable to the extent that the buyer has negative net
worth
find the least exothermic electron affinity to the most O, S
(ANS:O<S)
identify two exceptions to the general trend of ionization
energies in going across the period from LI to Ne. Explain why
these exceptions occur.(ANS:B,O)
1. Identify how student loan debt (or personal debt, if
you don’t have student loan debt) can affect your:
Credit score
Future budget
Spending goals/habits
2. Explain how managing your student loans (or personal
loans and debt if you don’t have student loans) can contribute to
personal financial success and growth.
3. Examine how debt influences your career
considerations in the following areas:
Salary
Determining what you choose to negotiate
Geographical location of the job
Differentiate between deficit and debt, identify some
concerns surrounding deficit and debt in popular media at the
national level. Discuss if these particular concerns are or are not
the major issues about which we should worry.
Many economists believe that deficit spending will reduce the
national income in the long run. Yet, popular fiscal policy theory
argues that deficit spending is what should be used to reduce the
impact of a recession or business slowdown in the short run. Are...