The Program Specifically Designed to Identify Returns with a High

question 53

Multiple Choice

The program specifically designed to identify returns with a high potential for a deficiency assessment is the

• A) TCMP.
• B) 1040 program.
• C) DIF program.
• D) instant audit program.

---

Definitions:

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owners' equity, serving as the foundation for double-entry bookkeeping.

Stockholders' Equity

The ownership interest of shareholders in the assets of a corporation, calculated as total assets minus total liabilities.

Assets

Resources owned or controlled by a business, entity, or individual, which are expected to produce value.

Liabilities

Financial obligations or debts owed by a company to creditors.