The Rate of Growth of Our Money Supply Is Controlled

question 134

Multiple Choice

The rate of growth of our money supply is controlled by

• A)the president.
• B)Congress.
• C)the Federal Reserve.
• D)the United States Treasury.
• E)tax legislation.

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Definitions:

Negligence

A failure to exercise reasonable care or diligence, resulting in harm or damage; in tax terms, it refers to the lack of care in complying with tax laws, potentially leading to penalties.

Automatic Extension

A provision that allows taxpayers additional time to file their tax returns without penalty.

Extension to File

An allowance by the IRS granting taxpayers additional time to file their income tax returns, beyond the April 15 deadline, without penalty for late filing.

Extension of Time

An allowance by the IRS giving taxpayers extra time to file their tax returns beyond the original due date.