Which One of the Following Is Not a Primary Authority

question 4

Multiple Choice

Which one of the following is not a primary authority of tax law?

• A)Code § 1245(b)(3)
• B)Regulations § 1.47-3(f)(2)
• C)May v.U.S., 81-1 USTC ¶9286, 47 AFTR2d 81-1124, 644 F.2d 578 (CA-6, 1981)
• D)Bailey, "Using Voting Preferred Stock to Avoid CFC Status," The International Tax Journal 2 (January 1976) pp.101-13
• E)Revenue Rul.80-219, 1980-2 C.B.18

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Definitions:

Vertical Analysis

A financial analysis method where each entry for each of the three major categories of accounts (assets, liabilities, and equities) in a balance sheet is represented as a proportion of the total account.

Comparative Data

Information or data that is compared to similar information from another period, or between different entities, to evaluate performance or make decisions.

Financial Statements

Official records that detail the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Intracompany Comparisons

The analysis and comparison of financial data or operational metrics within the same company over different periods or between different departments.