Which of the Following Factors Is an Economic Component of an Organization's

question 66

Multiple Choice

Which of the following factors is an economic component of an organization's external environment?

• A) The employees of the organization have, on average, 2.3 children.
• B) The average customer of a firm has a high school education.
• C) The firm's customers' disposable income falls in the range of $25,000-$40,000.
• D) Most of the firm's customers live in the Midwest.

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Definitions:

Tax Treatment

The specific way tax laws apply to different types of income, expenses, and individuals.

Tax Authority

The governmental body responsible for administering and collecting taxes within a specific jurisdiction.

Circular 230

Regulations promulgated by the U.S. Treasury Department governing practice before the IRS by attorneys, CPAs, and other professionals.

Paid Preparers

Paid Preparers are professionals hired to prepare, calculate, and file tax returns on behalf of individuals or businesses.