Identify which of the following statements is true.
A) The 90-day letter offers the taxpayer the choice of paying the tax assessed or filing a petition refuting the tax assessment with the Tax Court.
B) A taxpayer can choose to initiate tax litigation in a U.S. district court, the Tax Court, or a Court of Appeals.
C) The IRS cannot raise a new tax issue after issuance of the Statutory Notice of Deficiency (90-day letter).
D) All of the above are false.
A) The 90-day letter offers the taxpayer the choice of paying the tax assessed or filing a petition refuting the tax assessment with the Tax Court.
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Which of the following presents the proper ordering of assets, liabilities and equities on the statement of financial position used by some countries that is different from the U.S.?
a. current assets, long-term assets, current liabilities b. inventories, trade-receivables, cash c. assets, liabilities, equities d. current liabilities, long-term liabilities, equities
A product could be a tangible object or an intangible service
Indicate whether the statement is true or false
Ending merchandise inventory is not included in the calculation of cost of goods available for sale
Indicate whether the statement is true or false
A best practice is for a company to only have one internal service desk to provide a single point of contact for customers.
Answer the following statement true (T) or false (F)