Identify the item below that does not describe information a preparer must maintain about every return prepared.
A. The taxpayer's name and taxpayer identification number.
B. The date the return or claim for refund was prepared.
C. The taxable year of the taxpayer (or nontaxable entity) for whom the return was prepared.
D. The type of return or claim for refund prepared.
Answer: B. The date the return or claim for refund was prepared.
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Which one of the following is NOT a reason for using hedges such as a synthetic forward?
A) In some currency markets, forward contracts may not be available, but they can be manufactured using a money market hedge. B) Individual companies are not able to borrow and lend at the interest rates available in the interbank market. C) When time horizons are long, forward contracts can be expensive as the bid-ask spread widens substantially. D) It may be unfavorable to consider borrowing and lending to hedge one's currency risk.
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