Which of the Following Documents Is Issued by the IRS

question 59

Multiple Choice

Which of the following documents is issued by the IRS to a specific taxpayer?

• A)regulation
• B)revenue procedure
• C)letter ruling
• D)information release

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Definitions:

Accounts Payable

Liabilities of a business that are due to be paid to creditors within a short period of time, typically less than one year.

General Journal

A comprehensive accounting ledger that records all types of financial transactions before they are posted to more specific accounts.

General Journal

A primary accounting record used to record all types of transactions in chronological order before they are posted to individual accounts.

Unearned Items

Revenues received by a company for which the goods or services have not yet been provided or completed.