Which of the Following Statements About the Outcome of an IRS

question 53

Multiple Choice

Which of the following statements about the outcome of an IRS audit is false?

• A)The most probable outcome of an audit is that the taxpayer will be assessed a deficiency.
• B)An audit never results in a refund of tax due to the taxpayer.
• C)If a revenue agent finds no mistakes on a return during an audit,the agent files a report concluding "no change."
• D)None of the above is false.

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Definitions:

Fixed Quantity

A specific, unchanging amount of a good or service, not influenced by price changes.

Maximum Amount

The highest possible quantity or level that can be reached or allowed.

Leisure Time

Free time that an individual can spend away from work, business, or domestic chores, often used for relaxation, recreation, or hobbies.

Production Possibilities Curve

A graphical representation showing the maximum quantity of goods and services that can be produced using limited resources.