Decisions That Are Based on Rules and Guidelines Are Known

question 93

Multiple Choice

Decisions that are based on rules and guidelines are known as ______ decisions.

• A)brainstormed
• B)heuristic
• C)programmed
• D)intuitive
• E)creative

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Definitions:

Tax Court

A federal court that hears and adjudicates tax-related disputes and issues between taxpayers and the Internal Revenue Service.

Tax Assessment

Tax assessment is the process of determining the value of a property, or the income of an individual or business, for the purpose of levying taxes.

Simplified Tax Formula

A streamlined calculation to determine taxable income by subtracting allowable deductions and exemptions from gross income.

Income Tax Returns

Income Tax Returns are forms filed with a taxing authority that report income, expenses, and other pertinent tax information, used to calculate tax liability.