Which Is Not a Component of Tax Practice

question 66

Multiple Choice

Which is not a component of tax practice?

• A)providing clients tax refund advance loans
• B)tax research
• C)tax planning and consulting
• D)compliance

---

Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance.

Variable Costs

Expenses that fluctuate in direct proportion to the production or sales volume, for instance, direct labor and raw materials.

Budgeting

The process of creating a plan to spend your money, allocating financial resources for various purposes over a specified period.

Machine-hours

A measure of the operating time of machines or equipment, typically used as a basis for allocating manufacturing overhead in product costing.