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1. The Service may use indirect methods to determine the taxable income of a taxpayer whose spending exceeds his or her sources of funds:
a. if the taxpayer has reliable books and records and proof exists that he or she received a large inheritance in the current tax year.
b. if the taxpayer has reliable books and records, and they show the taxpayer adequately reported his or her taxable income.
c. if the taxpayer offers books and records for inspection that are of questionable value and his her only explanation offered for excessive spending is a cash horde.
d. All of the above.
2. Administrative sources of the tax law, such as IRS Regulations, Revenue Rulings and Revenue Procedures:
a. are generally drafted by the Supreme Court.
b. are official interpretations of the tax law made by the Department of the Treasury and the IRS.
c. do not have the force of law because they are the opinions of the Secretary of the Treasury.
Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.
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Evaluate venture's present value, cash and surplus cash and basic venture capital.
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Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.
How much will you have left over each half year if you adopt the latter course of action?
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