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Question 1: Discussion Question 9-2 (LO 91) Explain how cost of goods is treated when a business sells inventory. What is an ordinary and necessary

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Discussion Question 9-2 (LO 91) Explain how cost of goods is treated when a business sells inventory. What is an "ordinary and necessary" business expenditure? Discussion Question 9-27 (LO 9. 4) The cash method of accounting is generally preferred by taxpayers. Describe two types of businesses that are not allowed to use the cash method

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