1. Print or internet tax services published by RIA and CCH can be organized

A. according to the Code Sections in the Internal Revenue Code, in order B. according to cases and rulings as they are decided and then linked to the relevant code section. C. along logical topic lines, including all relevant code sections within the topic D. Both A and C E. Both A and B.

2. A good source for the practitioner to gain an understanding of unfamiliar areas of the tax law is through

A. a tax treatise. B. a Revenue Ruling C. the Client D. None of the above

3. Pursuant to the all-inclusive concept of income

A. the taxpayer has income when received in the form of property or services, but not cash B. the taxpayer has income when cash is received C. the taxpayer does not have income unless the Code says the receipt is income D. a receipt that increases the taxpayer's net worth is included in gross income unless specifically excluded by the Code

4. The following is an example of a recurring expense which is deductible by a calendar-year taxpayer in full in the year of payment

A. Taxpayer purchases six months of business insurance on September 15, 2016, for a cost of $800 B. Taxpayer pays $10,000 for two years of rent for the office building in advance C. Taxpayer pays a consultant $15,000 to perform a marketing study that will not be completed for 18 months D. Taxpayer pays his attorney a retainer fee of $10,000 for ongoing litigation costs in a product liability lawsuit

5. Pursuant to Code Sec. 1202, gain on the sale of qualified small business stock purchased before 2009 is

A. a category of ordinary income taxed fully at the taxpayer's marginal tax rate B. a category of capital gain taxed fully at a rate of 28 percent. C. a category of capital gain, 50 percent of which is taxed at a rate of 14 percent D. a category of capital gain, 50 percent of which is taxed at a rate of 28 percent

6. Pursuant to Code Sec. 512, which tax-exempt organization would have unrelated business taxable income (UBIT)

A. The sale at a profit of standard legal forms to its members by a local bar association B. The sale of a public radio station's membership list to marketing company C. The provision of pet boarding and grooming services for the general public by an organization operated for the prevention of cruelty to animal D. All of the above