Which of the Following Is Not a Citation to a Primary

question 42

Multiple Choice

Which of the following is not a citation to a primary authority?

• A)Sec. 1245
• B)Lengsfield v. Comm., 50 AFTR 1683 (CA-5, 1957)
• C)M-5800 Activities Not Engaged in for Profit - Hobby Losses
• D)Rev. Proc. 2002-32, 2002-1 C.B. 959

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Definitions:

Holders of Record

Registered owners of securities at a specific time who are entitled to receive dividends or distributions announced by a company.

Dividend Payable

A liability recorded on a company's balance sheet for the dividends declared by the board of directors that have not yet been paid out to shareholders.

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, although the overall value of the company doesn't change.

Book Value

The net value of a company's assets minus its liabilities, often used to evaluate its financial health.