Which of the Following Statements Is True

question 16

Multiple Choice

Which of the following statements is true?

• A) The income tax return is prepared using GAAP.
• B) The income tax return is prepared using rules set by the SEC.
• C) The income tax return is prepared using rules set by the IRS.
• D) The income tax return and the financial statements are the same documents.

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Definitions:

Self-discrepancy

A theory suggesting individuals experience discomfort (e.g., sadness, feeling threatened) from any discrepancy between their actual self and ideal or ought selves.

Emotional Reaction

The psychological and physical response to an event or stimulus that can range from happiness and joy to sadness, anger, or fear.

Lean

Characterized by a high ratio of muscle to body fat, or in business, operating with efficiency and minimal waste.

Athletic

Relating to or involving sports, physical activities, or the physical skills and abilities required in sports.