Which of the Following Is a Primary Authority on Which

question 54

Multiple Choice

Which of the following is a primary authority on which to base research conclusions?

• A) Textbook used in this class
• B) An editorial explanation in a commercial tax service
• C) A Treasury regulation
• D) A treatise written by a tax attorney and published in a legal journal

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Definitions:

Consolidated Income Tax Return

A single income tax return filed by a parent company and its subsidiaries, considered as one entity for tax purposes.

Intra-entity Transfers

Transfers of goods, services, or assets between divisions or units within the same company.

Voting Stock

Shares that give the shareholder the right to vote on matters of corporate policy and the election of the board of directors.

Foreign Corporation

A company that is incorporated under the laws of a country different from the country of its primary operations.