Which of the Following Is (Are) Secondary Sources of Tax

question 3

Multiple Choice

Which of the following is (are) secondary sources of tax law?
I.Revenue Ruling.
II.The Tax Adviser.
III.Murphy and Higgins' Concepts in Federal Taxation.
IV.Tax Treaty with Denmark.
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• A)Statements I, II, and III are correct.
• B)Statements I and II are correct.
• C)Statements II and III are correct.
• D)Only statement IV is correct.
• E)Only statement III is correct.

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Definitions:

Present Value

The current worth of a future sum of money or cash flows given a specified rate of return.

Dollar Received

Indicates the actual amount of money received, taking into account all transactions.

Potential Profit Rate

refers to the expected return on investment or the rate at which a particular activity or venture might yield profit under optimal conditions.

Usury Laws

Regulations that impose caps on the interest rates that can be charged on loans, designed to protect consumers from excessive rates.