A Disadvantage of Electing to Use the Small Claims Division

question 38

Multiple Choice

A disadvantage of electing to use the small claims division of the Tax Court is that

• A)it is a more formal proceeding.
• B)the decision is final and can not be appealed.
• C)it tends to be more expensive.
• D)it can cause many delays.
• E)All of the above.

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Definitions:

Professional Shareholders

Investors who hold a significant amount of shares in a company and often have a substantial influence on the company's management and decisions.

Personally Liable

means an individual is legally obligated to pay a debt or damages out of their own assets.

Obligations

Obligations are legal or moral duties that a person or entity is required to fulfill, including contractual commitments or the requirement to compensate for harm caused by one's actions.

General Partnership

See partnership.