Identify Which of the Following Statements Is True

question 91

Multiple Choice

Identify which of the following statements is true.

• A) A penalty for substantial understatement will potentially be assessed on an individual if the underpayment of tax exceeds the greater of 15% of the tax shown on the return or $5,000.
• B) Substantial authority exists for a position that is supported by a decision rendered by the Court of Appeals for the taxpayer's own circuit.
• C) An individual taxpayer may be subject to a penalty for underpayment of estimated taxes if his balance of tax due when he files is $500.
• D) All of the above are true.

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Definitions:

Competitive Environments

The dynamic external system in which businesses compete for resources, customers, and market position.

Sociocultural Environments

The societal and cultural factors that influence an organization's operations, including norms, values, customs, and demographics.

Opportunities

External factors or situations that can be leveraged by a business or organization to achieve its goals.

Threats

External factors or circumstances that could cause harm to an organization or project, often identified in a SWOT analysis.