A Solicitor's Response to an Auditor's Request for Information Concerning

question 5

Multiple Choice

A solicitor's response to an auditor's request for information concerning litigation, claims and assessments will ordinarily contain which of the following?

• A)An explanation regarding limitations on the scope of the response.
• B)A statement of concurrence with the client's determination of which unasserted possible claims warrant specification.
• C)Confidential information that would be prejudicial to the client's defence if publicised.
• D)An assertion that the list of unasserted possible claims identified by the client represents all such claims of which the solicitor may be aware.

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Definitions:

Exemption

Deductions allowed by law to reduce taxable income based on taxpayer and dependent information.

Gross Income Test

A criterion used by the IRS to determine if someone can be claimed as a dependent based on their gross income.

Relationship Test

Criteria used by the IRS to determine eligibility for certain tax benefits and deductions, based on the taxpayer's relationship to another individual.

Age Test

A criteria used in various legal and financial contexts to determine eligibility based on an individual's age.