The Program Specifically Designed to Identify Returns with a High

question 49

Multiple Choice

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

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

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Definitions:

Gratuitous Bailment

A bailment where the bailor lends an item to the bailee without expecting payment, the bailee is thus under a duty to return the item.

Consideration

The value, which could be in the form of money, a promise, or effort, given in exchange for a contractual agreement.

Strict-Liability

A legal concept where a party is liable for damages caused by their actions, regardless of fault or intent, often applied in product liability cases.

Common Law

Also known as case law.