Quiz 2 - Quiz 2 Points Possible Points Earned Points Missed...

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      Quiz 2    Points Possible  10  Points Earned  6  Points Missed  4  Points Ungraded  0  Score  60.0% 1. Revenue Procedure ________________ allows almost any taxpayer with  average annual gross receipts of $1 million or less to use the cash method of  accounting.  Response: 2001-10 Answer: 2001-10  Points: 1 / 1 2. Revenue Procedure __________ allows eligible businesses with gross receipts  of $10 million or less to use the cash method of accounting.  Response: 2002-28 Answer: 2002-28  Points: 1 / 1 3. (T/F)  Depreciation is an accounting method. Response: TRUE Answer: TRUE  Points: 1 / 1 4. (T/F)  If inventories are used to compute income, a taxpayer must use accrual  accounting to report all of its income and expenses on its federal income tax  return. Response: TRUE Answer: FALSE  Points: 0 / 1 5. (T/F)
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Quiz 2 - Quiz 2 Points Possible Points Earned Points Missed...

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