An account's tax line determines where QuickBooks lists the account balance on the:
A)Income Statement
B)Income Tax Summary Report
C)Balance Sheet
D)Statement of Cash Flows

Name: An account's tax line determines where QuickBooks lists the account balance on the: A)Income Statement B)Income Tax Summary Report C)Balance Sheet D)Statement of Cash Flows
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Question

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The tax line in QuickBooks is used to categorize accounts for tax reporting purposes, specifically for generating the Income Tax Summary Report.

An Account's Tax Line Determines Where QuickBooks Lists the Account