Identify Which of the Following Statements Is False

question 109

Multiple Choice

Identify which of the following statements is false.

• A)Citations to the AFTR and the USTC are referred to as secondary citations.
• B)A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue.
• C)A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation.
• D)Circuit Court decisions are reported in the Federal Reporter.

---

Definitions:

Subjective Opinion

An individual's personal and biased view, influenced by feelings, tastes, or opinions.

Going-concern Assumption

An accounting principle that assumes a company will continue to operate for the foreseeable future, not liquidate or reduce its operations significantly.

Operating

Pertaining to the ongoing, day-to-day activities necessary for an entity to function, including production, sales, and administrative tasks.

Business Ownership

Business Ownership entails the possession, control, and responsibility over a business entity, including rights to its assets and liabilities.