Identify which of the following statements is true.
A. Signing of Form 870-AD by the taxpayer does not generally preclude the subsequent filing of a refund claim.
B. The IRS will issue a 90-day letter (a Statutory Notice of Deficiency) if the taxpayer does not file a protest letter within 10 days of the date of the 30-day letter.
C. Form 870-AD is used if the taxpayer and IRS representative agree to a lesser tax liability than that originally proposed by the Service.
D. All of the above are false.
Answer: C
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Tulip Corp has $1,000,000, 6%, nonconvertible bonds due in 2017 and $1,500,000, 3%, convertible bonds due in 2018. The basic earnings per share are $1.25 and the diluted earnings per share are $1.18. Based upon this information, Tulip must disclose
A) basic earnings per share because the convertible bonds are not dilutive. B) basic earnings per share and dilutive earnings per share because the convertible bonds are dilutive. C) basic earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet. D) basic earnings per share and dilutive earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet.
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A) Portability and flexibility B) Screen size C) Resolution D) Bandwidth, speed and connectivity E) Operational costs
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Fill in the blanks with correct word