Test Bank SWFT Comprehensive 2010 ch 26

Test Bank SWFT Comprehensive 2010 ch 26 - CHAPTER 26 TAX...

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Unformatted text preview: CHAPTER 26 TAX PRACTICE AND ETHICS 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 AACSBs and AICPAs Core Competencie s 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 Client services in tax consulting Unchanged 1 2 Organization of the IRS New 3 Audit rate experience Unchanged 3 4 Targeted audit rates based on nature of the taxpayer Unchanged 4 5 Document matching programs Unchanged 5 6 Letter ruling procedures Unchanged 6 7 Letter ruling procedures Unchanged 7 8 Letter ruling procedures Unchanged 8 9 Letter ruling procedures Unchanged 9 10 Burden of proof in an audit Unchanged 10 11 Notice of deficiency Unchanged 11 12 Types of tax audits Unchanged 12 13 Thirty-day letter Unchanged 13 14 Tax Court Small Cases Division Unchanged 14 15 Interest computations Unchanged 15 16 Penalty computations and interaction Unchanged 16 17 Reasonable cause exceptions Unchanged 17 18 Negligence penalty Unchanged 18 19 Overvaluation penalty Modified 19 20 Undervaluation penalty Unchanged 20 21 Civil fraud Unchanged 21 22 Criminal fraud Unchanged 22 23 Statute of limitations: no return filed Unchanged 23 24 Statute of limitations: application of 6-year rule Unchanged 24 25 Statute of limitations: applicable to bad debts and Unchanged 25 worthless securities 26 Representing the taxpayer Unchanged 26 26-1 26-2 2010 Comprehensive Volume/Test Bank 27 Circular 230 Unchanged 27 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 28 Circular 230: due diligence New 29 Circular 230: when preparer must sign a return New 30 Unauthorized practice of law New 31 Circular 230: client fees Unchanged 28 32 Circular 230: contingent fees Unchanged 29 33 Circular 230: disclosure of client information Unchanged 31 34 Preparer penalties Unchanged 32 35 Privileged communications Unchanged 33 36 Tax ethics: application of the SSTSs Unchanged 34 37 AICPA tax standards: force and effect of Unchanged 35 38 AICPA tax standards: position contrary to IRS Unchanged 36 39 AICPA tax standards: completeness Unchanged 37 40 AICPA tax standards: estimates Unchanged 38 41 AICPA tax standards: estimates Modified 39 42 AICPA tax standards: estimates Unchanged 40 43 Tax ethics Unchanged 41 44 Audit strategies Unchanged 42 MULTIPLE CHOICE 1 Rulings process Unchanged 1 2 Mechanics of taxpayer appeals Unchanged 2 3 Mechanics of tax audits Unchanged 3 4 Tax Court Small Cases Division Unchanged 4 5 Interest computations Unchanged 5 6 Negligence penalty Modified 6 7 Substantial understatement of tax liability penalty Unchanged 7 8 Overvaluation penalty Modified 8 9 Overvaluation penalty Unchanged 9 10 Overvaluation penalty...
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Test Bank SWFT Comprehensive 2010 ch 26 - CHAPTER 26 TAX...

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