1. Which of the following is an advantage of a sole proprietorship over other business forms?

MULTIPLE CHOICE

1. Which of the following is an advantage of a sole proprietorship over other business forms?

2. Internet versions of topical tax services include

3. Regulations are

4. Ralph and Yolanda purchased 20% of the initial offering of Major Corporation common stock for $150,000. Major Corporation is a qualifying small business corporation and the stock qualifies as Sec. 1244 stock. Ten months later, Major Corporation files for bankruptcy and the shareholders are notified that the stock is worthless. Ralph and Yolanda, who are married and file a joint return, have a

5. Which of the following is not a step in the tax research process?

6. For Sec. 351 purposes, the term “property” does not include

7. Which of the following is a true statement regarding primary authority of tax law?

8. Which of the following is secondary authority?

9. Which of the following statements about a partnership is true?

10. Identify which of the following statements is true.

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