You Made an Error When You Filed Your Tax Return

question 86

Multiple Choice

You made an error when you filed your tax return last year. You can correct this error by filing:

• A) Form 1040-ES.
• B) Form 1040X.
• C) Form 1040EZ.
• D) Schedule A.
• E) Schedule D.

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Definitions:

Reference Point

A basis or standard for evaluation, assessment, or comparison; a point of reference.

Loss Averse

The psychological phenomenon where losses are perceived to be more significant than equivalent gains.

Mental Accounting

The process by which individuals categorize their money into different accounts based on subjective criteria.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.