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Author Question: If a cash basis taxpayer gives a note in payment of an expense, the deduction may not be taken until ... (Read 113 times)

awywial

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on: Sep 13, 2020

Question 1

Generally, if inventories are an income-producing factor to the business, the accrual method must be used for sales and cost of goods sold.
◦ true
◦ false

Question 2

If a cash basis taxpayer gives a note in payment of an expense, the deduction may not be taken until the note is paid.
◦ true
◦ false
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by awywial on Sep 13, 2020

leahchrapun

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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awywial

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

jackie

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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