Select the alternative which correctly classifies the statements below in "T" (true) or "F" (false):

1.Anna White can claim a deduction for $45,000 which she received from her insurance company for the loss of her printing press.

2John Doe is a sole practitioner at Doe's Accounting, therefore he must account under the Cash method as per Carden's case.

3. $150,000 received by Dane Lee from his employer as a result of a work injury which caused him to lose his forearm is assessable under s 15-30 ITAA97.

4.A taxpayer may choose which method of accounting is more convenient in terms of compliance

.5.

Dunn Pty Ltd received $350,000 from Moon Ltd for the cancellation of a business contract which represented 70% of Dunn's income. This amount is assessable by CGT rules and ITAA97 s 102-5.