Identify which of the following statements is false.
A) If fraud is asserted in a tax transaction, the burden of proof falls on the IRS.
B) The civil fraud penalty consists of 75% of the tax underpayment attributable to fraud plus 25% of the interest payable on the portion of the underpayment resulting from the fraud.
C) The government must prove its case "beyond a reasonable doubt" in order for the court or jury to convict a taxpayer of criminal fraud.
D) The fraud penalty can be imposed with respect to income, gift, and estate tax returns.
B) The civil fraud penalty consists of 75% of the tax underpayment attributable to fraud plus 25% of the interest payable on the portion of the underpayment resulting from the fraud.
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Unsolicited application letters to prospective employers
A) require more research than solicited letters. B) allow a clear target to focus on. C) should repeat key pieces of information from the résumé. D) identify what the organization is doing wrong and how you can contribute to its success. E) need to be more gimmicky than solicited application letters.
Victoria reported assets of $13,362 million at January 1 and $13,369 million as of December 31 of the current year. Net cash flows from operations were $2,204 million. Calculate the cash flow on total assets ratio.
What will be an ideal response?
Uncertainty avoidance describes man's search for truth, according to Hofstede, because
A. truth describes reality. B. it describes how comfortable the culture's members feel in an unstructured situation. C. once you have truth, you can avoid change, which is always disruptive. D. truth is primary to our human value system; everything else depends upon it.
Leonna orders five table settings of china from Elite China. Each set includes a dinner plate, cup & saucer, bowl, and dessert plate. The china is sold only in sets. When the delivery arrives, Leonna discovers that Elite China sent the wrong pattern
Leonna immediately calls Elite China and is instructed to send the shipment back. While repacking the shipment, Leonna changes her mind and decides to keep the cups and saucers. She returns everything else. Can she do this?