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Butoxors [25]
3 years ago
15

Name three primary sources of authority that tax professionals should check against the citator before relying on those sources

for important matters.
Business
1 answer:
soldi70 [24.7K]3 years ago
3 0

Answer:

The three primary sources of authority that tax professionals should check against the citator before relying on those sources for important matters are;

1. Revenue procedures

2. Revenue rulings

3. Judicial decisions

Explanation:

A citator can be defined as an index of legal resources that allows the researcher to find newer documents of the original document and thus the history of statues and cases can be reconstructed. This has been collectively termed as shepardizing. There are different kinds of citators depending on the type of case one is handling. In our case, we are dealing with tax professionals. Tax professionals deal with three primary sources of authority that tax professionals should check against the citator before relying on those sources for important matters. These primary sources are; revenue procedures, revenue rulings and judicial decisions. They are further elaborated below;

1. Revenue procedures

A revenue procedure is a set of guide that give direction on how to apply law, regulations and rulings. They majorly give direction on matters involving tax.

2. Revenue rulings

A revenue ruling is an order directly from the Internal Revenue Services (IRS) that has the full backing of the law and therefor enforceable. Such rulings on revenue, give direction on how the IRS understands the tax laws. Since the IRS is an authority constituted by top-level tax professionals, a revenue ruling can be used by other tax professionals to cite cases of similar nature.

3. Judicial decisions

Judicial decisions is a statement of advice written by a judge or a panel of judges that serves as a guide in solving a legal dispute. They involve a written legal opinion that tends to justify how and why they arrived to that conclusion to solve the dispute. The same thinking can be used by other professionals in other disputes of a similar nature to solve them.

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Kathleen is considering expanding her dress shop. If interest rates rise she is Group of answer choices less likely to expand. T
Karolina [17]

Answer:

<u><em>Less likely to expand.</em></u>

Explanation:

When ever interest rates rise in an economy, the soul purpose of that is to control inflation by influencing the people to save more and consume/spend less.

Hence, when the interest rates will rise, Kathleen will be moving away from the expansion process as she will have to borrow the money at more cost than before, hence increasing the risk of return from the expansion process. Hence this will lead to the demand for loan-able funds to slope downwards.

Hope this helps you. Good Luck.

7 0
3 years ago
Prime Company began operations in January, 2019, by issuing 5,700 shares of 9%, cumulative, $65 par value preferred stock and 25
8090 [49]

Answer:

Preference dividend = 9% x $65 x 5,700 shares

                                = $33,345

Dividend paid to ordinary shareholders = $50,000 - $33,345

                                                                 = $16,655

Explanation:

The dividend paid to preferred stockholders is 9% of the par value multiplied by number of preferred stock outstanding. The dividend paid to common stockholders is the difference between total dividend paid and dividend paid to preferred stock holders.

6 0
2 years ago
Grettzee, a musical instruments manufacturing company, imports high-quality maple wood from Resumbro, a South Asian country wher
kirill [66]

Answer:

Access to factors of production

Explanation:

Factors of production refers to all the resources that are needed in order to create goods or services. Generally, factors of production are divided into 4 category:

-Land

- Labor

- Capital

- Entrepreneurial skill

The woods that needed as raw materials from the text above is included as a part of 'land' . Since Resumbro have closer access to this resources, it will be cheaper for them to produce that materials, and it will be cheaper for Grettzee to buy it from another place .

6 0
2 years ago
I need help ASAP!!!
Anettt [7]

Answer:I got transaction processing system

Explanation:

Apex

4 0
3 years ago
Read 2 more answers
​Sara's Jewelry sold 20 necklaces for $ 35 each to a credit customer. The invoice included a 5​% sales tax and payment terms of
jeka94

Answer:

The journal entry for recording the original sale is shown below:

Explanation:

The journal entry for recording the original sale is as follows:

Accounts receivable A/c................................Dr $735

         Sales Tax A/c...................................................Cr $35

          Sales A/c............................................................Cr $700

As sales is made on credit so the accounts receivable account will be debited against the Sales account, which is credited. And there is sales tax charged on selling necklaces, which is credited to the sales tax account.

Computation of Sales Tax as:

Sales tax = Selling amount × Tax

where

Selling amount = Number of Necklaces × Price

= 20 × $35

= $700

So,

Sales tax = $700 × 5%

Sales tax = $35

8 0
2 years ago
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