Which of the Following Is Not a Legal Obligation of an Income

question 54

Multiple Choice

Which of the following is not a legal obligation of an income tax return preparer?

• A) A preparer must endorse clients' refund checks.
• B) A preparer must furnish clients with copies of their returns.
• C) A preparer must sign clients' tax returns.
• D) A preparer must include his or her identifying number on clients' tax returns.

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Definitions:

Finance

The study and management of money, investments, and other financial instruments, including the processes of raising, allocating, and utilizing funds by individuals, businesses, and governments.

Historically

Referring to events, conditions, or patterns that have occurred in the past.

Securities

Securities are financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a government or corporation (bond), or rights to ownership as represented by an option.

Cash Flows

The movement of money into and out of a business, project, or financial product.