The statute of limitations as it generally applies to the income tax law means that
A)
the IRS has three years from the time of your filing to impose additional tax liabilities.
B)
that your total taxes, both federal and state, cannot exceed an annually determined limit.
C)
both you and the IRS can change your tax return regardless of when it was filed if it contains mistakes.
D)
you must pay your tax liability within three days of filing your return or face a stiff penalty.
A
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The purpose of segregating the duties of distributing payroll checks and hiring personnel is to:
A. Separate the authorization of transactions from the custody of related assets. B. Separate the custody of assets from the accounting for those assets. C. Establish clear lines of authority and responsibility. D. Separate duties within the accounting function.
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Which of the following correlations would be interpreted a moderate relationship?
a..25 b..35 c..45 d..65