Which of the Following Is Not a Source of a Tax

question 97

Multiple Choice

Which of the following is not a source of a tax practitioner's professional responsibilities?

• A) AICPA Code of Professional Conduct.
• B) Statements on Standards for Tax Services.
• C) Circular 230.
• D) State Board of Accountancy statutes.
• E) None of these.

---

Definitions:

Cash Sales Policy

A cash sales policy is a company's strategy to require payment for goods or services at the time of sale, which can improve cash flow and reduce credit risk.

Net 30 Credit Policy

A payment term that allows the buyer 30 days to pay the invoice in full from the invoice date.

Monthly Interest Rate

The percentage of interest charged or earned on a principal amount on a monthly basis.

Variable Cost

A cost that changes in proportion to changes in the level of output or activity.