1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luden [163]
2 years ago
12

The tax professional can reduce the chances that staff personnel will incur IRS preparerpenalties by adopting a "tone at the top

" that stresses integrity, diligence, and other elements of an ethical tax practice. True or false?
Business
1 answer:
poizon [28]2 years ago
4 0

Answer:

True.

Explanation:

Preparer penalties are sanctions imposed by the internal revenue code on tax professional who are found negligent in discharging their professional duties in tax matters. These sanctions range from financial fines to imprisonment. And Internal Revenue Code has relevant sections for each category of negligence. Normally, it is the staff personnel that has the highest exposure to the risk of being negligent and tax professionals will put in place adequate measures to reduce this exposure to preparer penalties. One of such measures that are employed to reduce the chances of staff personnel incurring  IRS preparer penalties is tone at the top approach. This approach is used by management to establish the ethical value of the firm. It set up the environment in which management relay their commitment to upholding ethical values, such as integrity, diligence and objectivity.

This established tone will serve as guiding map to the staff personnel who are expected to follow the guideline in discharge of their duties. And in turn, this regulated behavior of staff personnel and demonstrated commitment of management to upholding ethical values will help to reduce the chances of staff personnel incurring IRS preparer penalties because of the presence of atmosphere of integrity and diligence in the organisation. So the answer is true.

You might be interested in
Which would be a negative externality of increased satellite usage worldwide?
Digiron [165]
<span>The correct option is A. One of the disadvantages of satellite usage is the cluttering of the earth orbital with hazardous debris. Satellite usage has some other disadvantages, these include: high cost, unreliable signal, propagation delay and repair. It is extremely difficult to repair a damaged satellite.</span>
3 0
3 years ago
Keynesian economics argues for the use of _____ policy to stabilize the economy.
slavikrds [6]

Answer:

Keynesian economics argues for the use of active government policy to stabilize the economy.

Explanation:

In order to alleviate or avert economic recessions, Keynesian economics places a strong emphasis on the employment of proactive government policy to control aggregate demand. Keynes contended that lengthy periods of high unemployment might result from a lack of general demand. Consumption, investment, government purchases, and net exports are the aggregate of four factors that determine an economy's amount of goods and services.

8 0
1 year ago
“All cheques are bills but all bills are not cheque” –Explain
aleksklad [387]

All cheques are bills but all bills are not cheque.

This is correct statement because both cheque and bill are piece of paper which displays money which is to be paid to someone.

A bill is a document which is drawn on any person and there is no name on the bill whereas cheque is a document which is drawn on the payee name only.

Both of these are documents which are used to pay the amount to someone.

A cheque can be drawn payable on demand while bill is drawn on expiry of certain period.

Learn more at brainly.com/question/24469524

7 0
2 years ago
In order to produce a new product, a firm must lease new equipment. The managers feel that they can sell 10,000 units per year a
kogti [31]

Answer:

The most the firm can spend to lease the new equipment without losing money=$75,000

Explanation:

The point at which the revenue in terms of sales equals the cost is the break-even point. This can be expressed as;

R=C

where;

R=revenue from sales

C=cost

And;

R=P×N

where;

R=revenue from sales

P=price per unit

N=number of units

In our case;

P=$7.5 per unit

N=10,000 units

replacing;

R=7.5×10,000=$75,000

Total revenue from sales=$75,000

C=p×n

where;

p=cost per unit

n=number of units

In our case;

p=$5

n=unknown

replacing;

C=5×n=5 n

At break-even point, R=C;

5 n=75,000

n=75,000/5=15,000

The break-even cost=5×15,000=$75,000

The most the firm can spend to lease the new equipment without losing money=$75,000

5 0
3 years ago
Which statement describes the role of the Federal Reserve System? A. It prints all the paper money in circulation in the United
kumpel [21]
The job of the Federal Reserve System is to control the supply of money in the United States. Although it might seem like the Federal Reserve System prints the money as well, but this is in fact not true. The U.S. Treasury prints paper and coin currency and the Federal Reserve System distributes the money globally. 
6 0
3 years ago
Read 2 more answers
Other questions:
  • Joana volunteers to deliver a last-minute presentation on behalf of her team. Which quality is Joana demonstrating?
    12·2 answers
  • Kotrick company has beginning inventory of​ 15,000 units and expected sales of​ 23,000 units. if the desired ending inventory is
    12·1 answer
  • True or false: if jacques's fire engines were a competitive firm instead and $160,000 were the market price for an engine, incre
    12·1 answer
  • Suppose you purchase a 8-year AAA-rated Swiss bond for par that is paying an annual coupon of 8 percent and has a face value of
    14·1 answer
  • Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its aver
    10·1 answer
  • Ethel is having a Halloween party at her house and you can’t remember where she lives! You know that Mildred doesn’t live next d
    9·1 answer
  • Consider the following information on three stocks: State of Economy Probability of State of Economy Rate of Return if State Occ
    9·1 answer
  • Swifty Corporation, has 14100 shares of 4%, $100 par value, cumulative preferred stock and 61000 shares of $1 par value common s
    11·1 answer
  • A common test for employment at Ergon Inc., a cake factory, is a strength requirement test. This would be an example of
    15·1 answer
  • Law of demand is defined as the relationship between price and quantity from a buyer's perspective.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!