With Respect to the Audit Process,which of the Following Statements

question 127

Multiple Choice

With respect to the audit process,which of the following statements is incorrect?

• A)Only the Appeals Division of the IRS has the authority to settle tax disputes based on the hazards of litigation.
• B)The IRS does not publish the factors it uses for audit selection purposes annually in the Commissioner's Report.
• C)For a Form 1040 that is filed on April 11,2011,if the taxpayer has not received an audit notification from the IRS by the end of 2011,the return may still be audited.
• D)If the taxpayer makes a math error on the Form 1040,an office audit automatically is triggered.

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Definitions:

Current Yield

A financial metric that calculates the annual interest income from an investment as a percentage of its current market price.

Dividend Yield

A metric that indicates the annual dividend payment of a corporation as a proportion of its share price.

Discount Yield

A measure of a bond's return, calculated as the bond's discount from its face value divided by its face value, expressed as a percentage.