Question 1

The computer-based CPA examination has four sections with true-false,multiple-choice,and case studies (called simulations).

Accepted Answer

A) True 
 B)False

Question 2

A Temporary Regulation under § 173 of the Code would be cited as follows: Temp.Reg.§ 173.

Accepted Answer

A) True 
 B)False

Question 3

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Accepted Answer

A) True 
 B)False

Question 4

Which court decisions are published in paper format by the U.S.government?

Accepted Answer

A)   U.S. Tax Court Memorandum decision.
B)   U.S. Tax Court regular decision.
C)   Fifth Circuit U.S. Court of Appeals decision.
D)   Court of Federal Claims decision.
E)   All of the above.F) All of the above
G) B) and D)

Question 5

The "respondent" refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 6

Arizona is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 7

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 8

A researcher can find tax information on home page sites of:

Accepted Answer

A)   Governmental bodies.
B)   Tax academics.
C)   Publishers.
D)   CPA firms.
E)   All of the above.F) A) and E)
G) C) and E)

Question 9

Before a tax bill can become law,it must be approved by the President.

Accepted Answer

A) True 
 B)False

Question 10

Which tax source may override a Regulation section?

Accepted Answer

A)   Revenue Ruling.
B)   Revenue Procedure.
C)   U.S. tax treaty.
D)   Technical Advice Memoranda.
E)   None of the above.F) A) and D)
G) A) and C)

Question 11

Accessing tax documents through electronic means offers limited advantages over a strictly paper-based approach.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following sources has the highest tax validity?

Accepted Answer

A)   Revenue Ruling.
B)   Letter ruling.
C)   Regulations.
D)   Internal Revenue Code section.
E)   None of the above.F) A) and B)
G) A) and C)

Question 13

The Internal Revenue Code was codified in which of the following years?

Accepted Answer

A)   1913.
B)   1933.
C)   1954.
D)   1957.
E)   None of the above.F) C) and D)
G) A) and E)

Question 14

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A)   The CPA exam now has only four parts.
B)   There are no longer case studies on the exam.
C)   A candidate may not go back after exiting a testlet.
D)   Simulations include a four-function pop-up calculator.
E)   None of the above are incorrect.F) B) and E)
G) C) and D)

Question 15

A U.S.Tax Court decision carries less weight than a decision issued by the Fifth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 16

Most major tax services are available in electronic format.

Accepted Answer

A) True 
 B)False

Question 17

Regulations are arranged in the same sequence as the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 18

Post-1984 letter rulings may be substantial authority for purposes of the accuracy-related penalty in § 6662.

Accepted Answer

A) True 
 B)False

Question 19

In assessing the importance of a regulation,an IRS agent must:

Accepted Answer

A)   Give equal weight to the Code and regulations.
B)   Give more weight to the Code rather than to a regulation.
C)   Give more weight to the regulation rather than to the Code.
D)   Give less weight to the Code rather than to a regulation.
E)   None of the above.F) B) and E)
G) C) and E)

Question 20

Which item may not be cited as a precedent?

Accepted Answer

A)   Regulations.
B)   Temporary Regulations.
C)   Technical Advice Memoranda.
D)   U.S. District Court decision.
E)   None of the above.F) B) and E)
G) A) and B)

Exam 2: Working With the Tax Law

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

Arizona is in the jurisdiction of the Second Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

In assessing the importance of a regulation,an IRS agent must:

Correct AnswerverifiedShow Answer

Before a tax bill can become law,it must be approved by the President.

Correct AnswerverifiedShow Answer

Which statement is incorrect with respect to taxation on the CPA exam?

Correct AnswerverifiedShow Answer

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Correct AnswerverifiedShow Answer

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Correct AnswerverifiedShow Answer

A researcher can find tax information on home page sites of:

Correct AnswerverifiedShow Answer

Which court decisions are published in paper format by the U.S.government?

Correct AnswerverifiedShow Answer

The "respondent" refers to the party against whom a suit is brought.

Correct AnswerverifiedShow Answer

Accessing tax documents through electronic means offers limited advantages over a strictly paper-based approach.

Correct AnswerverifiedShow Answer

A U.S.Tax Court decision carries less weight than a decision issued by the Fifth Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

Most major tax services are available in electronic format.

Correct AnswerverifiedShow Answer

The Internal Revenue Code was codified in which of the following years?

Correct AnswerverifiedShow Answer

A Temporary Regulation under § 173 of the Code would be cited as follows: Temp.Reg.§ 173.

Correct AnswerverifiedShow Answer

Which item may not be cited as a precedent?

Correct AnswerverifiedShow Answer

Regulations are arranged in the same sequence as the Internal Revenue Code.

Correct AnswerverifiedShow Answer

Post-1984 letter rulings may be substantial authority for purposes of the accuracy-related penalty in § 6662.

Correct AnswerverifiedShow Answer

Which tax source may override a Regulation section?

Correct AnswerverifiedShow Answer

The computer-based CPA examination has four sections with true-false,multiple-choice,and case studies (called simulations).

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified