Which of the following statements about methods of, Ask an Expert

Accounting

Which of the following statements about methods of accounting is false?

a. The IRS has the right to determine if a taxpayer's method of accounting clearly reflects the taxpayer's income.

b. A taxpayer must request permission from the IRS to change its method of accounting for tax purposes.

c. A taxpayer engaged in more than one business can use a different method of accounting for each business.

d. Taxpayers must use the same method of accounting to compute taxable income as they use to compute financial statement income.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9404620

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