Which of the Following Is Not a Primary Authority

question 6

Multiple Choice

Which of the following is not a primary authority?

• A) Section 465 of the Internal Revenue Code
• B) Munro v. Comm., 267 F.3d 1918 (CA-8, 2004)
• C) CCH Master Tax Guide
• D) All of the above are primary authorities.

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Definitions:

Present Value

The assessed present-day value of money to be received in the future or a pattern of cash inflows, factoring in an established rate of return.

Effective Rate

is the actual interest rate that an investment earns or a loan incurs, including the effects of compounding over a given period.

Present Value

The current worth of a future sum of money or stream of cash flows given a specific rate of return, accounting for the time value of money.

Semiannually

Happens biannually, usually every six months.