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--) ? Secure l https://olbake.edu/webapps/ e/launch,jsp?course assessment id _447619 1&course; id 275242 1&content; id Question 38 What is the penality for tax fraud? a Itis 75% of the tax bill. b lt is 25% of tax bill Oc. It is 20% of the tax bill. od It is 50% ofthe tax bill Question 39 Which of the following is NOT a duty of the court-appointed trustee in a chapter 11 case? o a Investigate the acts, assets, liabilaties, and financial condition of the debtor O b Examine proofs of claims O c. Collect and liquidate the property of the debtor's estate o d All of the above are duties of a court-appointed trustee Question 40 Which of the following is the most common target regarding asuset misappropriation? O a valpable information O b ientory ? cash o d equipmest Question 41 Which of the following is a requirement to work as as entry-level Criminal Investigation special agent for the IRS? Oa comipletion of at least 9 semester bours in accounting at the college lerel b. be thirty-seven years of age or younger ccommpletion of at least two years of college d. completion of at least 15 semester bours of college ler-el courses in finance, economics, bosiness lat;, ta larw or moeey& banking Question 42 Inrentory fraud often involves es overstating inv entory and or understating cost of goods sold The result is a decrease in the 3 rross rofit ratin O Type here to searchExplanation / Answer
(38) In a tax fraud , the penalty is levied 15% per month upto a maximum of 75% of the tax bill.
(39) All the duties mentioned in (a),(b),(c) can be performed by the court appointed trustee in a chapter11(bankruptcy) case
(40) The most common target regarding asset misappropristion is CASH, such as
(41) To work as an entry level criminal investigation special agent for IRS
Hence option (c) is correct
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