Using Tax Software Will Not Save a Taxpayer Any Time

question 41

True/False

Using tax software will not save a taxpayer any time when preparing Form 1040.

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Definitions:

Utility

The subjective benefit or satisfaction a person expects from a choice or course of action.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, leading to the necessity of making choices.

Economizing Behavior

The practice of seeking to achieve maximum utility with limited resources, leading to optimal decision making.

Lowest Cost Method

A principle of optimizing operations or production by minimizing the costs involved in the process.