Which of the Following Statements Is CORRECT with Respect Toconflicting

question 20

Multiple Choice

Which of the following statements is CORRECT with respect toconflicting tax laws?

• A)Revenue Rulings and Revenue Procedures seldom are held tobe invalid by a court.
• B)Regulations are frequently held tobe invalid by a court.
• C)The decisions of courts that are higher in the judicial hierarchy should receive additional precedential weight.
• D)All of the these are correct.

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Definitions:

Social Choice

A theoretical framework for analysis of combining individual preferences, interests, or welfare to reach a collective decision or social welfare in a given society.

Aggregating

The process of combining multiple pieces of data or information into a single comprehensive whole.

Incentives

Refers to stimuli that motivate individuals or entities to perform certain actions or behaviors.

Majority Rule Voting

A voting system in which each member has one vote, and decisions are made by a majority of the votes cast, typically more than half.