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55. Which of the following entities do not compute taxable income per se?a. C corporations*b. Partnershipsc. Estatesd. Trustse. Individuals56. In order to secure prior approval for a change in accounting period, the taxpayer:57. Sturdy Co. filed a short period return covering four months. It had an NOL of $75,000. With respect to the NOL, Sturdy Co.:58. Newco is a 90% subsidiary of P Company. With respect to its accounting period:59. In 2013, X Company received full payment of an account payable from Jones Company. X Company had written the account off as a bad debt in 2012. In deciding how to treat the payment from Jones Company, X Company would use:a. the claim-of-right doctrine*b. the tax benefit rulec. the constructive receipt doctrined. the Arrowsmith doctrinee. none of the above60. Which taxpayers cannot use the cash basis method of accounting?
61. Mars uses the cash basis of accounting and is a calendar year firm. On December 31, 2013, it mailed checks in payment of expenses. The checks were not cashed until January 2014. Mars may take a deduction for these expenses in:62. It is late December 2013 and Jones Company, a calendar year taxpayer, wants to shift income from 2013 to 2014. Which of the following methods will not achieve its objective?