Based on the Advice of a Tax Return Preparer,a Taxpayer

question 28

Multiple Choice

Based on the advice of a tax return preparer,a taxpayer recently reported the market value of an unusual property distribution received from a real estate investment trust in her gross income.After the tax return was filed,the U.S.Tax Court ruled that similar kinds of distributions are not includible in gross income.The tax return preparer has:

• A) A duty to have retained the taxpayer's contact information and a duty to inform the client of this legal ruling
• B) A duty to inform the client of this legal ruling only if the amounts at issue are material to the taxpayer, measured as a percentage of the taxpayer's reported gross income
• C) A duty to inform the client of this legal ruling only if the amounts at issue are material to the taxpayer, measured as a percentage of the taxpayer's net worth
• D) No duty to contact the taxpayer

Identify factors that contribute to employee turnover intentions.

Recognize the relationship between job satisfaction, organizational commitment, and turnover.

Describe the impact of job satisfaction on customer satisfaction and organizational profitability.

Understand the concept of organizational citizenship behavior and its relevance to job performance.

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Definitions:

Product Costs

Costs that are directly associated with the creation of a product, including direct materials, direct labor, and manufacturing overhead.

Direct Materials

Raw materials that are directly traceable and integral to the finished product in the manufacturing process.

Selling Costs

All costs that are incurred to secure customer orders and get the finished product or service into the hands of the customer.

Indirect Costs

Costs that are not directly traceable to a single product or operation, such as overhead.