Which of the Following Is True of Revenue Rulings

question 11

Multiple Choice

Which of the following is true of revenue rulings?

• A)Lower courts are bound by them.
• B)They are a subset of Treasury Regulations.
• C)Once affirmed by an appellate court, they have the force of law.
• D)Although they represent the official policy of the IRS, courts may overrule them.
• E)All of the above.

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Definitions:

Overconfidence

Overconfidence refers to an individual's unwarranted belief in their own abilities or the correctness of their judgement, often leading to mistakes or failures.

Nonprogrammed Decisions

Decisions made in response to unique, novel, or complex situations that require a custom-tailored approach.

Group Decisions

The outcome or resolution reached through a process of deliberation and discussion among members of a group.

Ethical Decisions

Choices made based on moral principles and values, considering what is right and just.