Which of the Following Is Not a Primary Authority

question 12

Multiple Choice

Which of the following is not a primary authority?

• A)Section 465 of the Internal Revenue Code
• B)Munro v.Comm.,267 F.3d 1918 (CA-8,2004)
• C)CCH Master Tax Guide
• D)All of the above are primary authorities.

---

Definitions:

Variable Costing

An accounting method that only includes variable production costs in product costs, excluding fixed overhead.

Sales Price Variance

The difference between the actual selling price of a product and its budgeted or planned selling price, multiplied by the actual quantity sold.

Opening Stock

The value of goods available for sale at the beginning of an accounting period.

Flexible Budget

A budget that adjusts or flexes with changes in the volume or activity level, allowing for more accurate forecasting and planning.