A Position Taken in a Previously Filed Return or Expected

question 16

Multiple Choice

A position taken in a previously filed return or expected to be taken in a future return is known as:

• A) an audit position.
• B) a tax position.
• C) an uncertain tax position.
• D) none of the above.

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Definitions:

Transactions

The action of conducting business, trade, or an agreement between two or more parties.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States to harmonize the law among the states.

Baseball Bats

Sporting equipment made of wood or metal used in the game of baseball to hit the ball.

Harvested Wheat

Wheat that has been collected from fields, typically after growing and maturing over a season, and is ready for processing or sale.