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Author Question: Ralph's business records were lost as a result of Hurricane Katrina. CPA Jane prepares Ralph's ... (Read 98 times)

Mr3Hunna

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Ralph's business records were lost as a result of Hurricane Katrina. CPA Jane prepares Ralph's return using estimates. What do the Statements on Standards for Tax Services state about the use of estimates?
◦ Estimates may not be used.
◦ Estimates may be used without disclosing their use to the IRS.
◦ Estimates may be used, but Jane should disclose their use to the IRS.
◦ The Statements on Standards for Tax Services do not address the use of estimates.


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Marked as best answer by Mr3Hunna on Sep 13, 2020

Benayers

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Mr3Hunna

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Reply 2 on: Sep 13, 2020
Excellent


kthug

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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