Question
Which of the following accounts does not exist if you are using the cash method of accounting for tax purposes? A. Retained earnings B. Cost
Which of the following accounts does not exist if you are using the cash method of accounting for tax purposes?
A. Retained earnings
B. Cost of Goods Sold
C. Bad debt expense
D. Payroll tax expense
The answer is C. Bad debt expense.
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Analysis For Financial Management
Authors: Robert C. Higgins
12th International Edition
1260091910, 9781260091915
