Test Bank SWFT Comprehensive ALTERNATIVE MINIMUM TAＸ.docVIP

CHAPTER 15 ALTERNATIVE MINIMUM TAX Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSB’s and AICPA’s Core Competencies for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Purpose of AMT Unchanged 1 2 Direct versus indirect method Modified 2 3 Adjustments Unchanged 3 4 Adjustments versus preferences Unchanged 4 5 Circulation expenditures Modified 5 6 Circulation expenditures Unchanged 6 7 AMT exemption amount Unchanged 7 8 AMT rates Unchanged 8 9 AMT rates and net capital gain Modified 9 10 AMT credits Unchanged 10 11 AMT credits Unchanged 11 12 Tentative AMTI versus regular taxable income Unchanged 12 13 Tentative AMT Modified 13 14 Phaseout of AMT exemption amount Modified 14 15 AMT adjustments Unchanged 15 16 Circulation expenditures: positive and negative Unchanged 16 adjustments 17 Depreciation adjustment Unchanged 17 18 Depreciation adjustment Unchanged 18 19 Depreciation adjustment Unchanged 19 20 Pollution control facilities adjustment Unchanged 20 21 Mining exploration and development expenditures Unchanged 21 adjustment 22 Mining exploration and development expenditures Unchanged 22 adjustment 23 Research and experimental expenditures adjustment Unchanged 23 24 Long-term contracts adjustment Unchanged 24 25 Long-term contracts adjustment Unchanged 25 26 Incentive stock option adjustment Unchanged 26 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 27 Incentive stock option adjustment Modified 27 28 Incentive stock option adjustment Unchanged 28