A penalty may be assessed against an income tax return preparer who takes an unreasonable position that causes an understatement of liability on a return. For purposes of assessing the penalty, "understatement of liability" means
A. Any understatement of tax liability greater than $100.
B. Any understatement of the tax liability or overstatement of the amount to be refunded or credited.
C. Any understatement that exceeds 10% of the tax liability shown on the return.
D. Any overstatement of the amount refundable that exceeds 10% of the amount refundable shown on the claim for refund.
Answer: B. Any understatement of the tax liability or overstatement of the amount to be refunded or credited.
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According to the text, organizations can become customer-oriented by:
A) distributing information on all important buying influences only among marketing department personnel and brand managers. B) making strategic and tactical decisions interfunctionally and interdivisionally. C) spending large sums of money in research and development. D) introducing line extensions rather than creating new products.
Advertising has been able to cross cultural boundaries and make products appeal to a variety of cultures
Indicate whether the statement is true or false.