Question
The TCJA changed the rules for small businesses in all the following ways EXCEPT: It removed the requirement to track inventory for qualifying small businesses.
The TCJA changed the rules for small businesses in all the following ways EXCEPT:
It removed the requirement to track inventory for qualifying small businesses.
It allowed more small businesses to use the cash method rather than the accrual method.
Qualifying small businesses no longer need to use Form 3115 to report a change in accounting method.
Qualifying small businesses can elect out of using the UNICAP rules.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short
5th Edition
0073208140, 978-0073208145
