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Auditing chapter 1 quiz




Question;Question;1(1 point);The Federal estate and gift taxes are;examples of progressive taxes.;Question 1 options;True;False;Save;Question 2(1;point);The FICA tax (Medicare component) on;wages is progressive since the tax due increases as wages;increase.;Question 2 options;True;False;Save;Question 3(1;point);Some states use their state income;tax return as a means of collecting unpaid sales and use taxes.;Question 3 options;True;False;Save;Question 4(1;point);No state has offered an income tax;amnesty program more than once.;Question 4 options;True;False;Save;Question 5(1;point);The ad valorem tax;on personal use personalty is more often avoided by taxpayers than the ad;valorem tax on business use personalty.;Question 5 options;True;False;Save;Question 6(1;point);A VAT (value added tax);Question 6 options;Is regressive;in its effect.;Has not proved popular outside of the U.S.;Is not a tax on consumption.;Is used exclusively by third world (less developed);countries.;None of the above.;Save;Question 7(1;point);Which, if any, is notone;of Adam Smith?s canons of taxation?;Question 7 options;Economy.;Certainty.;Convenience.;Simplicity.;Equality.;Save;Question 8(1;point);Taxes levied by all states;include;Question 8 options;Tobacco;excise tax.;Individual income tax.;Inheritance tax.;General sales tax.;None of the above.;Save;Question 9(1;point);Federal excise taxes that are no;longer imposed include;Question 9 options;Tax on air travel.;Tax on wagering.;Tax on the manufacture of sporting equipment.;Tax on alcohol.;None of the above.;Save;Question 10(1;point);In terms of probability, which of the;following taxpayers would be least likely to be audited by the;IRS?;Question 10 options;Taxpayer owns and operates a check-cashing;service.;Taxpayer is an employed electrician.;Taxpayer just received a $3 million personal;injury award as a result of a lawsuit.;Taxpayer just won a $1 million slot machine;jackpot at a Las Vegas casino.;Taxpayer has been audited several times before.


Paper#40164 | Written in 18-Jul-2015

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