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Businesses that sell services rather than goods frequently use the cash method of accounting for tax purposes. 1) True 2) False Question 2 (1 point)
Businesses that sell services rather than goods frequently use the cash method of accounting for tax purposes. 1) True 2) False Question 2 (1 point) If a husband and wife each operate a business as a sole proprietorship, they must each file their own Schedule C to report their respective net profits. 1) True 2) False Question 3 (1 point) Reporting the deduction for employees' reimbursed travel expenses on Schedule C is the same for accountable and nonaccountable plans. 1) True 2) False Question 4 (1 point) Education expenses of a sole proprietor are deductible for AGI as long as they are ordinary, necessary, and reasonable in amount
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