4. There may be pitfalls to using Regulations. These pitfalls include: a. The regulation may not reflect the current tax law. b. The regulation may be outdated. c. Congress may amend the Code faster than the Treasury can issue regulations for the new or amended provisions. d. All of the above.

5. (T/F) Temporary regulations are considered to be authoritative and binding.

6. Which of the following revenue rulings deals with computers? a. Rev. Rul. 2006-27, 2006-1 CB 915 b. Rev. Rul. 2010-27, 2010-45 IRB 620 c. Rev. Rul. 86-129, 1986-2 CB 48 d. All of the above

7. (T/F) Revenue rulings are not based on specific fact situations from taxpayers.

8. Rev. Proc. 2000-50, 2000-2 CB 601, 12/4/2000 deals with a. Change of accounting methods--computer hardware costs b. Change of accounting methods--computer software costs c. Magnetic media reporting d. Business use of auto

9. (T/F) Rev. Proc. 2004-64, 2004-2 CB 898, 11/17/200 was superseded by Rev. Proc. 2005-78, 2005-51 IRB.

10. Which of the following is true about private letter rulings? a. PLRs are more authoritative revenue rulings. b. PLRs can be cited a precedent. c. PLRs are issued by the National Office of the IRS. d. None of the above.