Which Classification of Administrative Rules Are Usually the Most Important

question 208

Multiple Choice

Which classification of administrative rules are usually the most important:

• A) interpretative
• B) agency
• C) procedural
• D) formal
• E) none of the other choices are correct

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Definitions:

Amended Tax Return

A tax return filed to correct inaccuracies or add new information to a previously filed return, often resulting in a different tax liability.

Replacement Period

The specified time frame within which property must be replaced to defer recognition of gains for tax purposes.

Recognized Gain

The portion of a capital gain that must be reported as income for tax purposes.

Excluded Gain

Profit from the sale of an asset that can be exempt from taxes, often related to home sales under specific Internal Revenue Code sections.