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

question 13

Multiple Choice

Which of the following is (are) primary sources of tax law?
I.Joint Conference Committee Reports.
II.Journal of Taxation.
III.Revenue Procedures.
IV.Tax Treaty with France.
V.U.S. Tax Court Memorandum Decisions.
​

• A)Only statement IV is correct.
• B)Only statement I is correct.
• C)Statements II and III are correct.
• D)Statements I, III, IV, and V are correct.
• E)Statements I, II, III, IV, and V are correct.

---

Definitions:

Average Fixed

Assuming it's intended as "Average Fixed Costs," it is the fixed costs divided by the quantity of output, representing the cost per unit that does not change with the level of production.

Average Total

Typically refers to the average total cost, which is the total cost of production divided by the number of goods produced.

Total Variable

Expenses that change in proportion to the activity of a business, such as costs of goods sold, which vary with the level of production or sales volume.

Average Variable Cost

The variable costs of production (costs that change with output level) divided by the quantity of output, indicating the average variable cost per unit.