There Is No Limitation on the Period for Assessment

question 86

Multiple Choice

There is no limitation on the period for assessment:

• A) If the taxpayer omits from gross income an amount which is in excess of 25 percent of the amount of gross income stated on the return.
• B) In the case of a deficiency attributable to the application of a carryback (capital loss, net operating loss, or investment credit carryback).
• C) If the taxpayer files a false return.
• D) If a personal holding company fails to file with its return a schedule regarding its status as a personal holding company.
• E) In all of the above cases.

---

Definitions:

Sociology

The study of society, social institutions, and social relationships, analyzing the structure of societies and how individuals interact within these contexts.

Social Theory

Frameworks used to study and interpret social phenomena, focusing on patterns of social relationships, interaction, and culture.

Commodity Consumption

The process of purchasing and using goods and services that are available in the market.

Production

The process of creating goods and services through the combinatioN. of human labor, materials, and technology.