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Fifty professional income-tax advisors were given identical

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Fifty professional income-tax advisors were given identical [#permalink] New post 02 Oct 2012, 09:04
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B
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E

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Question Stats:

83% (02:39) correct 17% (01:23) wrong based on 53 sessions
Fifty professional income-tax advisors were given identical records from which to prepare an income-tax return. The advisors were not aware that they were dealing with fictitious records compiles by a financial magazine. No two of the completed tax returns agreed with each other, and only one was technically correct.

If the information above is correct, which one of the following conclusion can be properly drawn on the basis of it?

(A) Only one out of every twenty income-tax returns prepared by any given professional income-tax advisor will be correct.
(B) The fact that a tax return has been prepared by a professional income-tax advisor provides no guarantee that the tax return has been correctly prepared.
(C) In order to ensure that tax returns are correct, it is necessary to hire professional income-tax advisor to prepare them.
(D) All professional income-tax advisors make mistakes on at least some of the tax returns they prepare.
(E) People are more likely to have an incorrectly prepared tax return if they prepare their own tax returns than if they hire a professional income-tax advisor.
[Reveal] Spoiler: OA
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Re: Conclusion drawn [#permalink] New post 02 Oct 2012, 11:53
B is right.


(A) Only one out of every twenty income-tax returns prepared by any given professional income-tax advisor will be correct. >> Can't say this. Argument does not talk about rate of accurracy of any given individual.

(B) The fact that a tax return has been prepared by a professional income-tax advisor provides no guarantee that the tax return has been correctly prepared. >> Correct

(C) In order to ensure that tax returns are correct, it is necessary to hire professional income-tax advisor to prepare them. >> In given agrument, professionals were tested.

(D) All professional income-tax advisors make mistakes on at least some of the tax returns they prepare. >> Can't say all, because one was technically right.

(E) People are more likely to have an incorrectly prepared tax return if they prepare their own tax returns than if they hire a professional income-tax advisor. >> Can't say this based on given info.
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Re: Conclusion drawn [#permalink] New post 02 Oct 2012, 13:09
B is my answer.

Rest of the answers doesn't make much sense. Cheers!
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Re: Fifty professional income-tax advisors were given identical [#permalink] New post 06 Oct 2012, 01:05

50 professional Income-tax advisors given identical records.
All 50 got different outcomes.
only one was technically correct.


(A) Only one out of every twenty income-tax returns prepared by any given professional income-tax advisor will be correct.
The ratio is incorrect: 1 out of 50 is correct.

(B) The fact that a tax return has been prepared by a professional income-tax advisor provides no guarantee that the tax return has been correctly prepared.
This is correct! Yes. 1 correct out of 50 from professoinal income-tax advisors. Pretty alarming!

(C) In order to ensure that tax returns are correct, it is necessary to hire professional income-tax advisor to prepare them.
Having that high rate for error is not encouraging me to believe this.

(D) All professional income-tax advisors make mistakes on at least some of the tax returns they prepare.
One got it correct! So ALL is extreme claim.

(E) People are more likely to have an incorrectly prepared tax return if they prepare their own tax returns than if they hire a professional income-tax advisor.
Hmm. We don't know any information about non-professional preparing income-tax.
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Re: Fifty professional income-tax advisors were given identical   [#permalink] 06 Oct 2012, 01:05
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