McGraw-Hill’s Taxation of Individuals and Business Entities 2023 Edition 14th Edition Brian Spilker Test bank
Taxation of Individuals and Business Entities
( Test Bank)
McGraw-Hill’s Taxation of Individuals and Business Entities 2023 Edition 14th Edition Brian Spilker Test bank
Edition: 2023 Edition 14th
Author Name: Brian Spilker
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TRUE/FALSE – Write ‘T’ if the statement is true and ‘F’ if the statement is false.
1) Corporations are required to file a tax return annually regardless of their taxable income.
1) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
Difficulty : 1 Easy
AICPA : FN Measurement
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
2) The tax return filing requirements for individual taxpayers only depend on the taxpayer’s filing status.
2) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
Difficulty : 1 Easy
AICPA : FN Measurement
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
3) If a taxpayer is due a refund, she does not have to file a tax return.
3) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
Difficulty : 1 Easy
AICPA : FN Measurement
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
4) If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday).
4) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
Difficulty : 1 Easy
AICPA : FN Measurement
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
5) If an individual taxpayer is unable to file a tax return by its original due date, the taxpayer can request an automatic nine-month extension to file the return.
5) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
AICPA : FN Research
Difficulty : 1 Easy
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
6) An extension to file a tax return does not extend the due date for tax payments.
6) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
AICPA : FN Research
Difficulty : 1 Easy
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
7) The statute of limitations for IRS assessment generally ends four years after the date a tax return is filed.
7) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
AICPA : FN Research
Difficulty : 1 Easy
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
8) For fraudulent tax returns, the statute of limitations for IRS assessment is 10 years.
8) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Learning Objective : 02-01 Identify the filing requirements for income tax returns and the statute of
Topic : Taxpayer Filing Requirements
AICPA : FN Research
Difficulty : 1 Easy
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
9) The IRS DIF system checks each tax return for mathematical mistakes and errors.
9) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Difficulty : 2 Medium
AICPA : FN Research
Learning Objective : 02-02 Outline the IRS audit process, how returns are selected, the different typ
Topic : Internal Revenue Service (IRS) Audit Selection
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
10) Joel reported a high amount of charitable contributions as a deduction on his individual tax return relative to taxpayers with similar income levels. The information matching program is the IRS program most likely to identify Joel’s tax return for audit.
10) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Difficulty : 2 Medium
AICPA : FN Research
Learning Objective : 02-02 Outline the IRS audit process, how returns are selected, the different typ
Topic : Internal Revenue Service (IRS) Audit Selection
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
11) Office examinations are the most common type of IRS audit.
11) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Difficulty : 2 Medium
AICPA : FN Research
Learning Objective : 02-02 Outline the IRS audit process, how returns are selected, the different typ
Topic : Internal Revenue Service (IRS) Audit Selection
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
12) The three basic types of IRS examinations are computer exams, office exams, and business exams.
12) ______
⊚ true
⊚ false
Question Details
Accessibility : Keyboard Navigation
AACSB : Reflective Thinking
Bloom’s : Remember
Difficulty : 2 Medium
AICPA : FN Research
Learning Objective : 02-02 Outline the IRS audit process, how returns are selected, the different typ
Topic : Internal Revenue Service (IRS) Audit Selection
Accessibility : Screen Reader Compatible
Type : Static
Gradable : automatic
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