1. Which of the following is the last step in the tax research process? a.Updating the solution (where appropriate) in light of new developments b.Determining the keyword for the search c.Locating the appropriate tax law sources d.Identifying and refining the problem e.Assessing the validity of the tax law sources

2. The CPA evaluation will test taxation in which of the following sections? a.FAR b.TPF c.AUD d.REG e.BEC

3. Economic considerations can be used to justify: a.Allowing a credit for child care expenses. b.Allowing a credit for political contributions. c.Allowing a Federal income tax deduction for state and local sales taxes. d.Allowing excess capital losses to be carried over to other years. e.Allowing accelerated amortization for the cost of installing pollution control facilities.

4. Which of the following is a component of effective tax planning? a.Choose the simplest form of business entity. b.Defer the recognition of deductions. c.Avoid the recognition of income. d.Convert the classification of income from capital gain to ordinary income. e.Accelerate the recognition of income.