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Foundation CPE Module 8: Audits CPE Module 8 Quiz CPE

Module 8: End of Module Quiz

With Module 8 coming to a close, now is the time to test you to ensure you are making the progress we expect at this point in time.

We will ask you a series of questions that will be related to the information you have learnt so far in the topics we have covered.

This quiz will summarise the topics we have gone over in Module 1. To complete this quiz and move on to Module 2, you must get at least 75% correct.

Time limit: 0

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Course 1, Module 8 0%

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Question 1 of 20

1. Question
The audit of a U.S. withholding agent generally looks for which of the following aspects?
- To ensure that all reportable payments made to non-U.S. persons have been properly reported
- That the correct amount of tax has been withheld
- That the tax withheld is timely deposited with the IRS
- All of the above
Correct

Incorrect
Question 2 of 20

2. Question
Generally, the IRS audit process can be found in what document?
- Publication 515
- Internal Revenue Manual
- The IRS does not reveal their process
- General Information for Certain Information Returns
Correct

Incorrect
Question 3 of 20

3. Question
What nonfinancial industry listed is identified by the IRS as one likely to have NRA withholding in the corresponding Internal Revenue Manual 4.10.21?
- Professional Services Firms
- High Tech Industries
- Pharmaceutical Companies
- All of the above
Correct

Incorrect
Question 4 of 20

4. Question
What document does the IRS use to request information for an audit?
- Form 4564
- Form 4562
- Form 8655
- Form 1120
Correct

Incorrect
Question 5 of 20

5. Question
Which of the following areas will an IRS agent generally cover when performing an audit?
- Account opening procedures
- Design manuals for payment systems
- Deposit procedures
- Refund procedures
- All of the above
Correct

Incorrect
Question 6 of 20

6. Question
The audit of a U.S. withholding agent generally looks for which of the following aspects?
- To ensure that all reportable payments made to non-U.S. persons have been properly reported
- That the correct amount of tax has been withheld
- That the tax withheld is timely deposited with the IRS
- All of the above
Correct

Incorrect
Question 7 of 20

7. Question
Generally, the IRS audit process can be found in what document?
- Publication 515
- Internal Revenue Manual
- The IRS does not reveal their process
- General Information for Certain Information Returns
Correct

Incorrect
Question 8 of 20

8. Question
What nonfinancial industry listed is identified by the IRS as one likely to have NRA withholding in the corresponding Internal Revenue Manual 4.10.21?
- Professional Services Firms
- High Tech Industries
- Pharmaceutical Companies
- All of the above
Correct

Incorrect
Question 9 of 20

9. Question
What document does the IRS use to request information for an audit?
- Form 4564
- Form 4562
- Form 8655
- Form 1120
Correct

Incorrect
Question 10 of 20

10. Question
Which of the following areas will an IRS agent generally cover when performing an audit?
- Account opening procedures
- Design manuals for payment systems
- Deposit procedures
- Refund procedures
- All of the above
Correct

Incorrect
Question 11 of 20

11. Question
The audit of a U.S. withholding agent generally looks for which of the following aspects?
- To ensure that all reportable payments made to non-U.S. persons have been properly reported
- That the correct amount of tax has been withheld
- That the tax withheld is timely deposited with the IRS
- All of the above
Correct

Incorrect
Question 12 of 20

12. Question
Generally, the IRS audit process can be found in what document?
- Publication 515
- Internal Revenue Manual
- The IRS does not reveal their process
- General Information for Certain Information Returns
Correct

Incorrect
Question 13 of 20

13. Question
What nonfinancial industry listed is identified by the IRS as one likely to have NRA withholding in the corresponding Internal Revenue Manual 4.10.21?
- Professional Services Firms
- High Tech Industries
- Pharmaceutical Companies
- All of the above
Correct

Incorrect
Question 14 of 20

14. Question
What document does the IRS use to request information for an audit?
- Form 4564
- Form 4562
- Form 8655
- Form 1120
Correct

Incorrect
Question 15 of 20

15. Question
Which of the following areas will an IRS agent generally cover when performing an audit?
- Account opening procedures
- Design manuals for payment systems
- Deposit procedures
- Refund procedures
- All of the above
Correct

Incorrect
Question 16 of 20

16. Question
The audit of a U.S. withholding agent generally looks for which of the following aspects?
- To ensure that all reportable payments made to non-U.S. persons have been properly reported
- That the correct amount of tax has been withheld
- That the tax withheld is timely deposited with the IRS
- All of the above
Correct

Incorrect
Question 17 of 20

17. Question
Generally, the IRS audit process can be found in what document?
- Publication 515
- Internal Revenue Manual
- The IRS does not reveal their process
- General Information for Certain Information Returns
Correct

Incorrect
Question 18 of 20

18. Question
What nonfinancial industry listed is identified by the IRS as one likely to have NRA withholding in the corresponding Internal Revenue Manual 4.10.21?
- Professional Services Firms
- High Tech Industries
- Pharmaceutical Companies
- All of the above
Correct

Incorrect
Question 19 of 20

19. Question
What document does the IRS use to request information for an audit?
- Form 4564
- Form 4562
- Form 8655
- Form 1120
Correct

Incorrect
Question 20 of 20

20. Question
Which of the following areas will an IRS agent generally cover when performing an audit?
- Account opening procedures
- Design manuals for payment systems
- Deposit procedures
- Refund procedures
- All of the above
Correct

Incorrect

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