C11-Chp-00-Tst-1-Exm-Prb-2011-Nite-Final-Final

C11-Chp-00-Tst-1-Exm-Prb-2011-Nite-Final-Final -...

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a2d54e99a6248c40fdd922e942d11b47728585d7.doc. Page 1 of 4. Test No. Accounting 6120. Corporate Taxation – Examination no. 1-Night-Chapters 1-4 Spring, 2011. The University of North Carolina at Charlotte. February 9, 2011-Final Name________________________________________________ Row In Class__________ Instructions : You may use your code and regs book during the test. You may also use up to 8 pages of notes, plus code list and class plan pages. You may not use your regular tax textbook when answering questions on this test. The instructor will consider whether he can answer a question about the test, without defeating the purpose of a question. Avoid all appearances of impropriety. If you see any sign of impropriety, please prepare an anonymous note and slide it under the instructor's office door. Please turn in both the test and the computer answer sheet. Be sure to complete the name and row lines above. On your Opscan Sheet , your Student ID Number is entered as your "Identification Number." Your test number is entered in the "special codes" area, right justified. Your test number is written in red at the top of this test. The grade will be determined as follows: 100 points, less 3 points per incorrect answer. 1 Which of the following sources of tax law has the highest authority? a. Statutes b. Final regulations c. Revenue Rulings d. Letter rulings 2 What is generally the last committee that may consider a controversial tax bill before it is passed and forwarded to the President for a signature. a. House Finance Committee. b. Senate Finance Committee c. Joint Conference Committee d. House Ways and Means Committee e. Subcommittee on Revenue. 3 You have been asked to help in interpreting a friend's class notes on tax research. Unfortunately part of the notes have been erased. For example, a citation includes only the following: Reg. 1.______-2. You are able help your friend a little by disclosing that the missing part (underlined portion) of the citation is the: a. Code section no. b. Page c. Paragraph d. Year e. Branch of congress 4 A taxpayer does not agree with a proposed deficiency of additional tax resulting from an examination of her 2007 individual income tax return. She has not been able to satisfactorily resolve her case within the administrative processes of the Internal Revenue Service. Which of the following courts will hear the case before the taxpayer pays the additional tax sought by the IRS? a. United States District Court. b. United States Tax Court c. United States Claims Court d. None of the above 5 Which of these abbreviations does not describe an action that adds to the strength of a case? a. Aff'd b. Revg c. Cert. denied d. Acq. 6
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C11-Chp-00-Tst-1-Exm-Prb-2011-Nite-Final-Final -...

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