Which of the following is a true statement regarding primary authority of tax law?
A. Articles in The Journal of Taxation are viewed as primary authority.
B. Primary authority includes the Code, as well as administrative and judicial interpretations.
C. Tax services are sources of primary tax authority.
D. The Bloomberg BNA Daily Tax Reporter is a source of primary tax authority.
Answer: B
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Which one of the following statements is true?
a. Good cash management practices dictate that a company should maintain as large a balance as possible in its cash account. b. Sound internal control practice dictates that disbursements should be made by check. c. The person handling the cash should also prepare the bank reconciliation. d. Petty cash can be substituted for a checking account to expedite the payment of all disbursements.
Describe each of the three levels of programming individuals carry in their minds about how they interact with their environment.
What will be an ideal response?
Lacourse Inc.'s inspection costs are listed below: Units ProducedInspection CostsJanuary647$15,309February724$15,965March694$15,715April645$15,271May696$15,745June665$15,442July718$15,933August699$15,739 Management believes that inspection cost is a mixed cost that depends on units produced. Using the least-squares regression method, the estimate of the variable component of inspection cost per unit produced is closest to:
A. $8.27 B. $8.78 C. $22.80 D. $8.82
Just-in-time delivery increases inventory costs.
Answer the following statement true (T) or false (F)