Which of These Citations Does Not Refer to an Administrative

question 26

Multiple Choice

Which of these citations does not refer to an administrative release?

• A) Notice 90-20, 1980-1 C.B. 328.
• B) Ltr. Rul. 9333032 (May 24, 1993).
• C) TAM 9510001 (March 6, 1995).
• D) T.C. Summary Opinion, 2005-111.
• E) All of the above.

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Definitions:

Costs of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.

Inventory

A company's full collection of materials and goods, kept for the goal of being sold or used in production.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for, represented as an asset on the company's balance sheet.

Return on Equity

A financial ratio indicating the profitability of a company relative to shareholders' equity, showing how much profit is generated with the money shareholders have invested.