The use of estimates on a tax return generally is:
A) Prohibited
B) Allowed, but must be disclosed if the amounts involved are material
C) Allowed, but must be disclosed if most, or all, of the line items on the tax return were estimated
D) Allowed only if documents were destroyed by a natural disaster or computer failure
Correct Answer:
Verified
Q7: A taxpayer is willing to make a
Q8: A taxpayer wishes to assert a tax
Q9: A taxpayer ordinarily should not assert a
Q10: For CPAs solely engaged in professional tax
Q11: A tax return preparer generally has a
Q13: A paid tax return preparer estimated a
Q14: A taxpayer ordinarily should not assert a
Q15: A tax return preparer may prepare a
Q16: A taxpayer wishes to assert a tax
Q17: Preparing a client's tax return solely based
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