Which of the Following Statements Concerning IRS Audits Is False

question 101

Multiple Choice

Which of the following statements concerning IRS audits is false?

• A)In an administrative audit,your files are reviewed before an administrative law judge.
• B)In a field audit,the IRS visits your premises to examine your return.
• C)In an office audit,you visit the IRS office.
• D)In a self audit,the IRS asks you to examine the appropriateness of an item on your return.

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Definitions:

Deflation

Deflation is an economic condition characterized by a general decrease in prices of goods and services, often indicating a reduction in the supply of money or credit.

International Exchange Rate System

The framework through which countries manage the value and exchange of their currencies in relation to one another.

Gold Standard

A currency system that directly correlates the value of a nation's paper money or currency with the value of gold.

Gold Standard

A financial system in which the value of a nation's currency or banknotes is directly tied to gold.