Identify Which of the Following Statements Is False

question 25

Multiple Choice

Identify which of the following statements is false.

• A)The majority of the individual tax returns that are audited are selected under the DIF program.
• B)The TCMP audit program has been temporarily suspended by the IRS and replaced in part by lifestyle audits.
• C)The IRS is authorized to pay a reward to individuals who provide information resulting in increased collections.
• D)All of the above are false.

---

Definitions:

Finance Company

A business that makes loans to individuals and/or corporations, besides banks and other traditional financial institutions.

Friendly Bank

Informal term for a bank with which an individual or business has a good relationship and favorable terms.

Liability

A legal responsibility or obligation, often involving compensation for harm or damage caused.