The Internal Revenue Code of 1986 Is the Name of the Current

question 79

True/False

The Internal Revenue Code of 1986 is the name of the current income tax code of the United States of America.

---

Definitions:

U.S. Standards

Guidelines or norms established in the United States for various activities or products, often referring to quality and safety criteria.

Principles-Based

An approach focusing on underlying principles as opposed to strict compliance with detailed rules, often used in regulation and accounting.

Benchmark

A standard or point of reference against which the performance of securities, investments, or funds can be measured.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards for companies and non-profit organizations in the United States.