QUESTION 45 The ABC Corporation's depreciation for tax purposes was $100,000. Its depreciation for book purposes was $120,000. This item will be an addition on Schedule M-1. O a. True. O b. False. QUESTION 46 Thrush Corporation, a calendar year C corporation, files it's 2020 Form 1120, which reports taxable income of $100,000 for the year. The corporation's tax is $61.250. O a. True. b. False QUESTION 47 Lia incorporates her sole proprietorship with assets having a fair market value of $200,000 and an adjusted basis of $300,000. Even though 5 351 applies, Lia may recognize her realized loss of $100,000. O a. True. b. False