Which of the Following Is Listed as Suspicious Activity by the Internal

question 242

Multiple Choice

Which of the following is listed as suspicious activity by the Internal Revenue Service:

• A) the customer pays cash for products/services using bills having an unusual or chemical-like odor
• B) a 16-year-old brings bags of cash to a money transmitter to make a transfer from New York City to Miami
• C) a customer conducting an $11,000 cash transaction attempts to bribe a Money Services Business employee not to file a Currency Transaction Report
• D) all of the other specific choices are correct
• E) none of the other specific choices are correct

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Definitions:

Capital Accounts

Accounts that track the equity ownership of partners or shareholders in a business, reflecting contributions, withdrawals, and the share of profits or losses.

Ownership Equity

Refers to the residual interest in the assets of an entity after deducting liabilities, representing the owner's claim on the business.

Capital Balances

The amount of equity each partner or owner has in a business, reflecting contributions, withdrawals, and their share of profits or losses.

Capital Balances

Capital balances refer to the amounts of money or financial resources that owners have invested in a business, represented in the equity section of the balance sheet.