According to Circular 230, what should a CPA do upon discovery of an error in a client's prior-year return?
A) Notify the IRS of the error.
B) Inform the client of the error and its tax consequences.
C) File an amended return for the client.
D) Do nothing.
B) Inform the client of the error and its tax consequences.
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A method of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the
a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.
A chief executive officer (CEO) encourages the implementation of innovative ideas. The CEO is demonstrating a management style described in which theory?
A. Erikson’s life cycles B. McGregor’s Theory Y C. Herzberg’s dissatisfiers D. scientific management theory
Which of the following is a power granted to the Treasury secretary of the United States under the Grayson-Himes Pay for Performance Act?
A. Reviewing the constitution of the boards of directors of companies B. Reviewing how companies give their bonuses C. Specifying which employees are eligible to be paid bonuses D. Specifying what criteria must be considered when elevating people to upper-management positions
What is job control unionism and how does it address the problems associated with management practices stemming from scientific management?
What will be an ideal response?