Identify Which of the Following Statements Is True

question 10

Multiple Choice

Identify which of the following statements is true.

• A)The failure-to-pay penalty is waived if the additional tax due with the filing of the extended return does not exceed 15% of the tax owed for the year.
• B)If both the failure-to-file and the failure-to-pay penalties are owed, the taxpayer will incur a maximum addition to tax of 5.5% per month.
• C)Individuals having substantial income from sources not subject to regular withholding generally should make quarterly estimated tax payments to the IRS.
• D)All of the above are false.

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Definitions:

Representative

Serving as a typical example of a group or category of things; in statistics, it refers to a sample that accurately reflects the characteristics of the larger population.

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Statistical Index

A measure, often numerical, that indicates the relative position or level of a variable within a statistical distribution or dataset.

Two Factors

A psychological theory suggesting that emotion is based on two factors: physiological arousal and cognitive label.