A Keyword Search Using an Electronic Database Is Part of Which

question 7

Multiple Choice

A keyword search using an electronic database is part of which step in the research process?

• A) Understand the client's transaction and ascertain the facts
• B) Identify the tax issues, problems, or opportunities suggested by the facts and formulate specific research questions
• C) Locate relevant tax law authority
• D) Analyze relevant authority and answer the research questions

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Definitions:

Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment's initial cost.

Profits

Financial gains obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the operation.

Farmer

An individual engaged in the practice of raising crops or livestock, typically for food or raw materials.

Profit-Maximizing

The process by which a firm determines the price and output level that returns the greatest profit.