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GAAP rules are intended to promote uniform statements that accurately convey the financial history, health, and prospects of a business, while the tax code is intended to generate revenues for the government but also achieve certain public policy goals. Take a position whether companies should be required to use the same accounting methods for tax purposes as used for GAAP. describe your position.

Discuss the impact using the same accounting methods have on tax payments. Provide an ex, situation, or scenario to support your response.

Accounting Basics, Accounting

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