A person can't be relieved of liability for a tax deficiency under the innocent spouse rule if that person enjoyed significant financial benefit from taxable income omitted from the return.

Answer the following statement true (T) or false (F)


True

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Even if there are both appropriated and unappropriated retained earnings, the balances are combined when preparing the statement of retained earnings

a. True b. False Indicate whether the statement is true or false

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Personnel action forms are used to do all of the following except

a. activate new employees b. terminate employees c. record hours worked d. change pay rates

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Which regional trade area was formed in 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand?

a. CARICOM b. The Mercosur c. ASEAN d. The Asia Pacific Economic Cooperation Group (APEC)

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All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

A) increase the OASDI taxable wage base. B) delay scheduled increases in the full retirement age. C) make all OASDI benefits fully taxable. D) use general revenues of the federal government to help pay benefits.

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