Question 1

A Revenue Ruling is a judicial source of Federal tax law.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following types of Regulations has the highest tax validity?

Accepted Answer

A)  Temporary
B)  Legislative
C)  Interpretive
D)  Procedural
E)  None of theseF) A) and B)
G) C) and D)

Question 3

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 4

When searching on an electronic (online)  tax service,which approach is more frequently used?

Accepted Answer

A)  Internal Revenue Code section approach
B)  Keyword approach
C)  Table of contents approach
D)  Index
E)  All are about the sameF) B) and D)
G) C) and D)

Question 5

A U.S.District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following indicates that a decision has precedential value for future cases?

Accepted Answer

A)  Stare decisis
B)  Golsen doctrine
C)  En banc
D)  Reenactment doctrine
E)  None of theseF) D) and E)
G) B) and E)

Question 7

Which publisher offers the United States Tax Reporter?

Accepted Answer

A)  Research Institute of America (Thomson Reuters) 
B)  Commerce Clearing House
C)  LexisNexis
D)  Tax Analysts
E)  None of theseF) B) and C)
G) None of the above

Question 8

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A)  Letter Ruling
B)  Technical Advice Memorandum
C)  Determination Letter
D)  Field Service Advice
E)  None of theseF) B) and D)
G) A) and B)

Question 9

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A)  Section 211
B)  Section 1222(1) 
C)  Section 2(a) (1) (
A)  
D)  Section 280B
E)  All of these are correct cites.F) A) and B)
G) A) and C)

Question 10

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 11

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 12

Which is presently not a major tax service?

Accepted Answer

A)  Standard Federal Tax Reporter
B)  Federal Taxes
C)  United States Tax Reporter
D)  Tax Management Portfolios
E)  All of these are major tax servicesF) A) and C)
G) A) and E)

Question 13

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Accepted Answer

A) True 
 B)False

Question 14

Which is not a primary source of tax law?

Accepted Answer

A)  Notice 89-99, 1989-2 C.B. 422.
B)  Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946) .
C)  Rev. Rul. 79-353, 1979-2 C.B. 325.
D)  Prop. Reg. § 1.752-4T(f) .
E)  All of these are primary sources.F) B) and E)
G) B) and D)

Question 15

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 16

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 17

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme...

Question 18

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 19

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 20

This Internal Revenue Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

Which of the following indicates that a decision has precedential value for future cases?

Correct AnswerverifiedShow Answer

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Correct AnswerverifiedShow Answer

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Correct AnswerverifiedShow Answer

What administrative release deals with a proposed transaction rather than a completed transaction?

Correct AnswerverifiedShow Answer

When searching on an electronic (online) tax service,which approach is more frequently used?

Correct AnswerverifiedShow Answer

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

Correct AnswerverifiedShow Answer

Which publisher offers the United States Tax Reporter?

Correct AnswerverifiedShow Answer

Compare Revenue Rulings with Revenue Procedures.

Correct AnswerverifiedRevenue Rulings are official pronounceme...View AnswerShow Answer

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Correct AnswerverifiedShow Answer

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Correct AnswerverifiedShow Answer

Which of these is not a correct citation to the Internal Revenue Code?

Correct AnswerverifiedShow Answer

A Revenue Ruling is a judicial source of Federal tax law.

Correct AnswerverifiedShow Answer

Which of the following types of Regulations has the highest tax validity?

Correct AnswerverifiedShow Answer

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Correct AnswerverifiedShow Answer

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Correct AnswerverifiedShow Answer

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

A U.S.District Court is the lowest trial court.

Correct AnswerverifiedShow Answer

Which is not a primary source of tax law?

Correct AnswerverifiedShow Answer

This Internal Revenue Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

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Revenue Rulings are official pronounceme...
View Answer

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