Security Tax Prepares Individual Tax Returns and Has Finally Agreed

question 72

Multiple Choice

Security Tax prepares individual tax returns and has finally agreed (much to the dismay of the senior partners) to utilize the IRS system that enables the returns to be transmitted electronically rather than through the mail. Almost every other firm in the United States is utilizing the system, and it has proven to be reliable. Security agreed to use the new technology only after a number of key clients threatened to take their accounts elsewhere unless they could file their returns electronically. Security should be classified as

• A) An innovator.
• B) An early adopter.
• C) Part of the early majority.
• D) Part of the late majority.
• E) A laggard.

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Definitions:

Annual Cash Flows

The total amount of money being transferred in and out of a business over a year, used to assess the financial health of a business.

Deep-cycling

A process of discharging a battery completely before charging it again to maintain its capacity.

Wet Cell

A type of battery containing a liquid electrolyte solution, commonly used in automotive and other applications.