Identify Which of the Following Statements Is False

question 64

Multiple Choice

Identify which of the following statements is false.

• A)The number "5" in the citation Reg. Sec. 1.166-5 refers to the paragraph number.
• B)The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly.
• C)The citation Rev. Rul. 2006-5, I.R.B. 2006-1, 33, indicates that the revenue ruling can be found on page 33 of the 1st I.R.B. for 2006.
• D)All of the above are false.

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Definitions:

Discharged Debt

Debt that has been formally released or forgiven, relieving the debtor of any further responsibility to repay it.

Trustee

An individual or company responsible for managing and overseeing assets or property on behalf of another party.

Chapter 7 Bankruptcy

A provision of the bankruptcy code that allows individuals and businesses to discharge or eliminate most of their debts through the liquidation of assets.

Debtor's Property

Assets belonging to a debtor that may be used to pay off creditors.