Question 1

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 2

Which court decision carries more weight?

Accepted Answer

A)   Federal District Court.
B)   Fifth Circuit Court of Appeals.
C)   Memorandum U.S. Tax Court decision.
D)   Small Cases Division of U.S. Tax Court.
E)   U.S. Court of Federal Claims.F) A) and E)
G) B) and D)

Question 3

The CPA examination is normally curved to produce a designated pass rate.

Accepted Answer

A) True 
 B)False

Question 4

Which tax-related website probably gives the best policy-orientation results?

Accepted Answer

A)   taxalmanac.org.
B)   irs.gov.
C)   taxsites.com.
D)   taxanalyst.com.
E)   ustaxcourt.gov.F) A) and C)
G) A) and B)

Question 5

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 6

The Internal Revenue Code was first codified in what year?

Accepted Answer

A)   1913.
B)   1923.
C)   1939.
D)   1954.
E)   1986.F) D) and E)
G) C) and D)

Question 7

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Accepted Answer

A) True 
 B)False

Question 8

There are 11 geographic U.S.Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 9

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 10

The "respondent" refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 11

Explain the tax appeals process from trial courts.

Accepted Answer

Appeals from a District Court or a Tax C...

Question 12

Three judges will normally hear each U.S.Tax Court case.

Accepted Answer

A) True 
 B)False

Question 13

The following citation is correct: Larry
G. Mitchell, 131 T.C. 215 (2008).

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not an administrative source of tax law?

Accepted Answer

A)   Reg. § 301.6114-1.
B)   Section 2(a) (1) (
A)  .
C)   Rev. Rul. 2011-19.
D)   Notice 90-20.
E)   Ltr. Rul 201008049.F) D) and E)
G) A) and B)

Question 15

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A)   The CPA exam now has only four parts.
B)   There are no longer case studies on the exam.
C)   A candidate may not go back after exiting a testlet.
D)   Simulations include a four-function pop-up calculator.
E)   None of the above are incorrect.F) A) and B)
G) B) and E)

Question 16

Before a tax bill can become law,it must be approved by the President.

Accepted Answer

A) True 
 B)False

Question 17

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Accepted Answer

There is no appeal from the Small Cases ...

Question 18

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A)   Research Institute of America.
B)   Commerce Clearing House.
C)   Prentice-Hall.
D)   LexisNexis.
E)   None of the above.F) None of the above
G) A) and B)

Question 19

Which statement is not true with respect to a Treasury Regulation?

Accepted Answer

A)   Issued by the U.S. Congress.
B)   Issued as Treasury Decision.
C)   Designed to provide interpretation of the tax law.
D)   Carries more legal force than a Revenue Ruling.
E)   All of the above statements are true.F) A) and D)
G) B) and E)

Question 20

Which of the following is not published in the Cumulative Bulletin?

Accepted Answer

A)   Revenue Rulings.
B)   Proposed Regulations.
C)   Actions on Decisions.
D)   Letter Rulings.
E)   General Counsel Memoranda.F) D) and E)
G) C) and D)

Exam 2: Working With the Tax Law

Which statement is not true with respect to a Treasury Regulation?

Correct AnswerverifiedShow Answer

Which tax-related website probably gives the best policy-orientation results?

Correct AnswerverifiedShow Answer

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Correct AnswerverifiedShow Answer

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Correct AnswerverifiedThere is no appeal from the Small Cases ...View AnswerShow Answer

The CPA examination is normally curved to produce a designated pass rate.

Correct AnswerverifiedShow Answer

Which statement is incorrect with respect to taxation on the CPA exam?

Correct AnswerverifiedShow Answer

Which of the following is not published in the Cumulative Bulletin?

Correct AnswerverifiedShow Answer

Explain the tax appeals process from trial courts.

Correct AnswerverifiedAppeals from a District Court or a Tax C...View AnswerShow Answer

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Correct AnswerverifiedShow Answer

Which of the following is not an administrative source of tax law?

Correct AnswerverifiedShow Answer

Three judges will normally hear each U.S.Tax Court case.

Correct AnswerverifiedShow Answer

Before a tax bill can become law,it must be approved by the President.

Correct AnswerverifiedShow Answer

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Correct AnswerverifiedShow Answer

The following citation is correct: Larry G. Mitchell, 131 T.C. 215 (2008).

Correct AnswerverifiedShow Answer

The Internal Revenue Code was first codified in what year?

Correct AnswerverifiedShow Answer

There are 11 geographic U.S.Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

Which court decision carries more weight?

Correct AnswerverifiedShow Answer

The "respondent" refers to the party against whom a suit is brought.

Correct AnswerverifiedShow Answer

Temporary Regulations are only published in the Internal Revenue Bulletin.

Correct AnswerverifiedShow Answer

Which publisher offers the Standard Federal Tax Reporter?

Correct AnswerverifiedShow Answer

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There is no appeal from the Small Cases ...
View Answer

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Appeals from a District Court or a Tax C...
View Answer

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