Which of the Following Is a True Statement Regarding Primary

question 40

Multiple Choice

Which of the following is a true statement regarding primary authority of tax law?

• A)Articles in The Journal of Taxation are viewed as primary authority.
• B)Primary authority includes the Code, as well as administrative and judicial interpretations.
• C)The Bloomberg BNA Daily Tax Reporter is a source of primary tax authority.
• D)Tax services are sources of primary tax authority.

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Definitions:

Consumer Surplus

The discrepancy between the full amount consumers intend and have the means to pay for a good or service and the amount they genuinely pay.

Blue Jeans

A type of trousers made from denim or dungaree cloth, often considered a symbol of American culture.

Tax

A mandatory monetary fee or different kind of charge placed on a taxpayer by government authorities to finance government operations and diverse public expenses.

Consumer Surplus

The divergence between the amount consumers are prepared to pay and the amount they actually pay for a good or service.