Which of the Following Statements Correctly Reflects the Rules Governing

question 122

Multiple Choice

Which of the following statements correctly reflects the rules governing interest to be paid on an individual's Federal tax deficiency or claim for refund?

• A) The IRS has full discretion in determining the rate that will apply.
• B) The simple interest method for calculating interest is used.
• C) IRS interest compounds daily.
• D) Congress sets the IRS interest rate twice each year.

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Definitions:

Modus Ponens

A valid form of argument in which if a conditional statement ("if P then Q") is accepted, and P is asserted to be true, then Q necessarily follows.

Modus Tollens

A logical argument form where the contrapositive of a premise is used to infer the negation of the hypothesis.

Hypothetical Syllogism

A logical argument composed of two conditional statements and a conclusion, based if the first premise is true, then the second one follows.

Modus Ponens

A valid form of argument in which if a conditional statement (“if p then q”) and its antecedent (“p”) are true, then the consequent (“q”) is also true.