CHAPTER 4 - PRACTICE QUIZ ANSWERS
1. The IRS, as an administrative agency, is responsible for:
a. formulating and interpreting the tax laws
b. interpreting and enforcing the tax laws
c. formulating and evaluating the tax laws
d. planning and formulating t
CHAPTER 10 PRACTICE QUIZ ANSWERS
1. In the United States, GAAP comes under the purview of the:
a. Financial Accounting Standards Board (FASB).
c. Securities and Exchange Commission (SEC).
d. All of the above.
2. Deferred tax assets represent:
CHAPTER 5 - PRACTICE QUIZ ANSWERS
1. An appeal from the Tax Court is to the:
a. U.S. Court of Appeals where the taxpayer is located.
b. District Court where the taxpayer is located.
c. U.S. Court of Federal Claims
d. Supreme Court
2. If taxpayers choose n
CHAPTER 3 PRACTICE QUIZ ANSWERS
1. Regarding the taxing powers of the federal government, the U.S. Constitution requires that:
a. taxes imposed by Congress must apply uniformly throughout the U.S.
b. no direct taxes may be imposed on income
c. all revenue
CHAPTER 1 PRACTICE QUIZ
1. Tax compliance is the process of:
a. filing necessary tax returns
b. gathering the financial information necessary to report taxable income
c. representing a taxpayer at an IRS audit
d. all of the above
2. Tax evasion is:
a. a f