A Revenue Ruling Cannot Be Relied on as Authority by Any

question 6

True/False

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

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Definitions:

Central Limit Theorem

A statistical theory that states that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution.

Nonsampling Errors

Errors that occur in data collection processes other than random sampling errors, often due to human error.

Research Error

A mistake or discrepancy that occurs during the process of gathering, analyzing, interpreting, or presenting research data.

Big Data

Pertains to immensely vast collections of data that can be examined through computational methods to uncover patterns, trends, and relationships, particularly in the context of human behavior and interactions.