Quiz 5 - Quiz 5 (Method Changes) Points Possible Points...

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      Quiz 5 (Method Changes)    Points Possible  10  Points Earned  10  Points Missed  0  Points Ungraded  0  Score  100.0% 1. (T/F)  An accounting method is the treatment of any material item that affects the  year in which the income or deduction is reported.  Response: TRUE Answer: TRUE  Points: 1 / 1 2. (T/F)  Proper treatment of an item on the first tax return that includes the item  establishes an accounting method for that item. Response: TRUE Answer: TRUE  Points: 1 / 1 3. (T/F)  If a material item has been treated in the same way on two or more  consecutive tax returns, and that treatment violates the tax law, IRS permission  is still needed to change it. Response: TRUE Answer: TRUE  Points: 1 / 1 4. (T/F)  A change in the method of depreciation, the recovery period, or the  convention used for depreciation is an accounting method change. Response: TRUE
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Quiz 5 - Quiz 5 (Method Changes) Points Possible Points...

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