Identify Which of the Following Statements Is False

question 24

Multiple Choice

Identify which of the following statements is false.

• A)The IRS issues annually a revenue procedure that prescribes how a letter ruling should be requested and the information to be contained in the ruling request.
• B)The request for a ruling may contain a suggested conclusion (or answer)that the taxpayer proposes that the IRS adopt in the described situation.
• C)As a practical consideration, taxpayers always find it preferable to obtain an advance ruling on questionable tax situations.
• D)Third parties may not cite private letter rulings as authority for the tax consequences of their transactions.

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Definitions:

Ionic Bond

A chemical bond formed between two ions with opposite charges, where one atom donates an electron to another, leading to an attraction between the ions.

Covalent Bond

A strong chemical bond where two atoms share a pair of electrons to achieve a fuller outer shell of electrons.

Hydrogen Bond

A weak chemical bond between an electronegative atom, like oxygen or nitrogen, and a hydrogen atom bound to another electronegative atom, contributing to the structure and properties of molecules.

Atoms

The basic unit of a chemical element, consisting of a nucleus of protons and neutrons, with electrons orbiting around them.