Description
Principles of Taxation for Business and Investment Planning 2020 Edition 23rd Edition
Principles of Taxation for Business and Investment Planning, 23e (Jones)
Chapter 5 Tax Research
1) Experienced tax professionals generally can answer most tax questions without the need for tax research.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
2) A single tax issue may result in multiple research questions.
Answer: TRUE
Difficulty: 1 Easy
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
3) The first step in the tax research process is to locate relevant tax law authority.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
4) The final step in the tax research process is to document and communicate research conclusions.
Answer: TRUE
Difficulty: 1 Easy
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
5) Effective tax research often omits the first two steps of the tax research process.
Answer: FALSE
Difficulty: 2 Medium
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
6) Professional tax research conclusions should always be based on relevant secondary authority.
Answer: FALSE
Difficulty: 2 Medium
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
7) A research memorandum is typically less detailed than a client letter in terms of discussing supporting legal authorities.
Answer: FALSE
Difficulty: 2 Medium
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
8) Novice tax researchers tend to examine less material in the course of a tax research project than experienced tax researchers.
Answer: FALSE
Difficulty: 1 Easy
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
9) Tax research typically occurs as part of the tax compliance process; it is rarely important in tax planning.
Answer: FALSE
Difficulty: 2 Medium
Topic: The Tax Research Process
Learning Objective: 05-01 Explain and apply the six steps of the tax research process.
Accessibility: Keyboard Navigation
Type: Static
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