Which of the Following Is Secondary Authority

question 71

Multiple Choice

Which of the following is secondary authority?

• A)Internal Revenue Code
• B)Treasury Regulations
• C)RIA and CCH tax services
• D)Revenue Ruling

---

Definitions:

Revenue Accounts

Accounts that track the income earned from the sale of goods and services, or the increase in equity resulting from the operations of an organization.

Owner's Capital Account

An account on a company's balance sheet that represents the owner's invested capital plus retained earnings minus withdrawals.

Balance Sheet Accounts

Accounts that reflect the financial position of a company at a specific point in time, including assets, liabilities, and shareholders' equity.

Closing Entry Process

The procedure used at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, clearing the temporary accounts for the next period.