For CPAs Solely Engaged in Professional Tax Practice,abiding by the Statements

question 21

Multiple Choice

For CPAs solely engaged in professional tax practice,abiding by the Statements of Standards on Tax Services (SSTS) is:

• A) Mandatory because it is the only set of professional conduct rules that applies to them
• B) Desirable, but not mandatory
• C) Mandatory, when acting as a tax return preparer, but not as a tax planner
• D) Mandatory, even if they do not represent taxpayers in IRS audits or administrative proceedings

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Definitions:

Tangible

Refers to physical objects or assets that can be seen, touched, and quantified, as opposed to intangible items like rights or patents.

Movable

Personal property or assets that can be physically relocated from one place to another, as opposed to immovable property like land or buildings.

Article 2

Typically refers to a specific section within a larger legal document or statute, often cited in discussions of commercial transactions or contracts.

Sales And Leases

The legal transactions involving the exchange of goods or property for money or other consideration, and the temporary transfer of ownership rights in return for payment.