ACCT 324 help A Guide to career/Snaptutorial ACCT 324 help A Guide to career/Snaptutorial | Page 13

1. (TCO 9) Trent files his tax return 35 days after the due date. Along
with the return, Trent remits a check for $8,000, which is the balance
of the tax owed.
Disregarding the interest element, Trent's total failure to file and to
pay penalties are:
2. (TCO 9) A characteristic of fraud penalties is:
3. (TCO 1) Tax bills are handled by which committee in the U.S.
Senate?
4. (TCO 1) Which statement is false with respect to tax treaties?
5. (TCO 11) Emily, whose husband died in December 2008,
maintains a household in which her dependent daughter lives. Which
(if any) of the following is her filing status for the tax year 2008?
(Note: Emily is the executor of her husband's estate.)
6. (TCO 11) During the year, Kim sold the following assets: business
auto for a $1,000 loss, stock investment for a $1,000 loss, and
pleasure yacht for a $1,000 loss. Presuming adequate income, how
much of these losses may Kim claim?