Which of the Following Has the Highest Authoritative Weight

question 68

Multiple Choice

Which of the following has the highest authoritative weight?

• A)Textbook
• B)Private letter ruling
• C)Revenue ruling
• D)Tax service
• E)Tax article

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Definitions:

Voucher System

A control procedure in accounting where vouchers are used to authorize and document transactions before payment is made.

Supporting Documents

Documentation that provides evidence for financial transactions, serving as a basis for recording entries in the accounting system.

Internal Control

Procedures and policies implemented by a company to safeguard assets, ensure accurate reporting, and comply with laws and regulations.

Customer's Ledger

A ledger that contains the individual accounts of customers, showing their transactions and balances.