In Preparing an Income Tax Return, the Use of a Client's

question 34

True/False

In preparing an income tax return, the use of a client's estimates is not permitted.

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Definitions:

Burden

The load, duty, responsibility, or stress placed upon an individual or entity.

Distribution of Income

The way in which a nation’s total earnings are divided among its population, or the way in which wealth is shared amongst individuals.

Evade

To avoid or escape from something or someone, often by using cunning or deceit.

Perfectly Elastic

A situation in economics where the quantity demanded or supplied responds infinitely to changes in price.