The IRS must pay interest on
A. all tax refunds.
B. tax refunds paid later than 45 days after the due date.
C. tax refunds paid later than 30 days after the due date.
D. The IRS never pays interest on tax refunds.
Answer: B
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An expression of the amount of each item in a statement as a percentage of some designated total for comparative purposes is called
a. vertical analysis. b. return on total assets. c. earnings per share. d. horizontal analysis.
The chairman of the Federal Reserve Board, under whose leadership the inflation rate reduced from about 10 percent to about 4 percent in the 1980s was
A. Arthur Burns. B. G. William Miller. C. Paul Volcker. D. Alan Greenspan.
Which of the following is NOT a source of support for the realization of a deferred tax asset?
a. Future taxable temporary differences b. Future deductible temporary differences c. Past taxable income within the carryback period d. Future taxable income
The ________ account is used to record the effects of cash overages and shortages from errors in making change or managing a petty cash fund.
Fill in the blank(s) with the appropriate word(s).