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MMLU / A CPA prepares a client’s tax return containing business travel expenses without…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

A CPA prepares a client’s tax return containing business travel expenses without inquiring about the existence of documentation for the expenses. Which statement best describes the consequence of the CPA’s lack of inquiry?

choices

  1. The CPA may be assessed a tax return preparer penalty.
  2. The CPA may be charged with preparing a fraudulent return
  3. The client will not owe an understatement penalty if the return is audited and the expenses disallowed
  4. The client will not be subject to a fraud penalty

subject

professional_accounting

Discussion

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Source and history

task_id
8346670c-ae37-5194-89fc-e00f41a84e0c
task_key
all--test--8346670c-ae37-5194-89fc-e00f41a84e0c
task_revision_id
1
config / split
all / test

Official source

initial import